Waters Corporation (WAT) Shares Sold by GAM Holding AG
GAM Holding AG lowered its position in Waters Corporation (NYSE:WAT) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,840 shares of the medical instruments supplier’s stock after selling 1,516 shares during the period. GAM Holding AG’s holdings in Waters Corporation were worth $1,809,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Watermark Asset Management Inc. acquired a new stake in shares of Waters Corporation during the first quarter worth $106,000. First Manhattan Co. acquired a new stake in shares of Waters Corporation during the second quarter worth $130,000. Creative Planning raised its stake in shares of Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock worth $116,000 after buying an additional 12 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Waters Corporation during the first quarter worth $169,000. Finally, Atria Investments LLC acquired a new stake in shares of Waters Corporation during the second quarter worth $202,000. Institutional investors and hedge funds own 91.10% of the company’s stock.
Waters Corporation (NYSE:WAT) opened at 180.33 on Wednesday. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The firm has a market capitalization of $14.39 billion, a P/E ratio of 27.18 and a beta of 0.84. The firm has a 50-day moving average price of $179.62 and a 200-day moving average price of $170.19.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.05. The firm had revenue of $558.30 million during the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. Equities analysts anticipate that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 11th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Waters Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Wells Fargo & Company restated an “outperform” rating and set a $205.00 price target (up previously from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price target on the stock in a research note on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and set a $175.00 price target on shares of Waters Corporation in a research note on Thursday, July 27th. Finally, Cowen and Company restated a “hold” rating and set a $190.00 price target on shares of Waters Corporation in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Waters Corporation presently has an average rating of “Hold” and an average target price of $186.00.
In other Waters Corporation news, Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the transaction, the director now directly owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rohit Khanna sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $182.90, for a total value of $1,829,000.00. Following the transaction, the senior vice president now directly owns 14,077 shares of the company’s stock, valued at $2,574,683.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,780 shares of company stock valued at $7,545,221. 5.07% of the stock is currently owned by corporate insiders.
Waters Corporation Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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