Waters Corporation (WAT) Stake Lowered by Alliancebernstein L.P.
Alliancebernstein L.P. reduced its holdings in Waters Corporation (NYSE:WAT) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,720 shares of the medical instruments supplier’s stock after selling 3,981 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of Waters Corporation worth $25,502,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Waters Corporation by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after acquiring an additional 2 shares in the last quarter. Watermark Asset Management Inc. acquired a new position in shares of Waters Corporation in the 1st quarter worth approximately $106,000. First Manhattan Co. acquired a new position in shares of Waters Corporation in the 2nd quarter worth approximately $130,000. Atria Investments LLC acquired a new position in shares of Waters Corporation in the 2nd quarter worth approximately $202,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Waters Corporation in the 2nd quarter worth approximately $202,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.
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In related news, SVP Rohit Khanna sold 18,400 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $185.78, for a total value of $3,418,352.00. Following the transaction, the senior vice president now owns 22,477 shares in the company, valued at $4,175,777.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher A. Kuebler sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were 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 owns 17,849 shares in the company, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by insiders.
Several research analysts have recently commented on the company. Cowen and Company reissued a “hold” rating and issued a $190.00 target price on shares of Waters Corporation in a report on Friday, July 14th. BidaskClub raised Waters Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price objective on the stock in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price objective on shares of Waters Corporation in a report on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $205.00 price objective (up previously from $195.00) on shares of Waters Corporation in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $186.00.
Shares of Waters Corporation (WAT) opened at 183.86 on Thursday. The company has a 50 day moving average of $181.80 and a 200-day moving average of $174.21. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $190.39. The company has a market cap of $14.68 billion, a PE ratio of 27.71 and a beta of 0.83.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The company had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. Waters Corporation’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. Analysts forecast that Waters Corporation will post $7.38 EPS for the current fiscal year.
About Waters Corporation
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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