Waters Corporation (WAT) Stake Increased by Advisor Partners LLC
Advisor Partners LLC raised its position in Waters Corporation (NYSE:WAT) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,028 shares of the medical instruments supplier’s stock after buying an additional 137 shares during the period. Advisor Partners LLC’s holdings in Waters Corporation were worth $373,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Waters Corporation by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 37,928 shares of the medical instruments supplier’s stock worth $5,929,000 after buying an additional 295 shares in the last quarter. Armstrong Henry H Associates Inc. raised its position in shares of Waters Corporation by 2.4% in the first quarter. Armstrong Henry H Associates Inc. now owns 12,670 shares of the medical instruments supplier’s stock worth $1,980,000 after buying an additional 300 shares in the last quarter. Regent Investment Management LLC purchased a new position in shares of Waters Corporation during the first quarter worth approximately $350,000. Mountain Pacific Investment Advisers Inc. ID raised its position in shares of Waters Corporation by 0.3% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 110,274 shares of the medical instruments supplier’s stock worth $17,237,000 after buying an additional 300 shares in the last quarter. Finally, Caledonia Investments PLC purchased a new position in shares of Waters Corporation during the first quarter worth approximately $14,068,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waters Corporation (WAT) opened at 176.70 on Thursday. The stock’s 50 day moving average price is $180.91 and its 200-day moving average price is $167.29. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $187.65. The company has a market capitalization of $14.13 billion, a P/E ratio of 26.63 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.05. The company had revenue of $558.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. On average, equities analysts expect that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of research analysts have commented on the company. Bank of America Corporation reaffirmed a “neutral” rating and issued a $192.00 price objective (up from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Deutsche Bank AG lowered Waters Corporation from a “buy” rating to a “hold” rating and upped their price objective for the company from $183.00 to $194.00 in a report on Monday, July 10th. Cowen and Company reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Waters Corporation in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Waters Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research lowered Waters Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $186.00.
In other news, SVP Eugene G. Cassis sold 3,000 shares of Waters Corporation stock in a transaction on Friday, May 26th. The stock was sold at an average price of $177.81, for a total value of $533,430.00. Following the completion of the transaction, the senior vice president now directly owns 25,027 shares in the company, valued at $4,450,050.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael F. Silveira sold 620 shares of Waters Corporation stock in a transaction on Friday, May 12th. The shares were sold at an average price of $172.27, for a total value of $106,807.40. Following the completion of the transaction, the vice president now owns 1,688 shares of the company’s stock, valued at $290,791.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,200 shares of company stock valued at $17,837,082. 5.07% of the stock is owned by company 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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