National Pension Service boosted its position in Waters Corporation (NYSE:WAT) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,320 shares of the medical instruments supplier’s stock after buying an additional 7,293 shares during the period. National Pension Service owned about 0.10% of Waters Corporation worth $14,869,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Fenimore Asset Management Inc. increased its stake in Waters Corporation by 7.3% in the first quarter. Fenimore Asset Management Inc. now owns 300,295 shares of the medical instruments supplier’s stock valued at $46,939,000 after buying an additional 20,421 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock valued at $124,000 after buying an additional 35 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Waters Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 24,422 shares of the medical instruments supplier’s stock valued at $3,817,000 after buying an additional 260 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Waters Corporation during the first quarter valued at about $642,000. Finally, Douglass Winthrop Advisors LLC bought a new stake in shares of Waters Corporation during the first quarter valued at $236,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waters Corporation (WAT) traded up 0.78% during trading on Friday, hitting $177.03. The stock had a trading volume of 414,729 shares. The firm’s 50-day moving average is $180.63 and its 200-day moving average is $167.35. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The firm has a market cap of $14.13 billion, a P/E ratio of 26.68 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last released its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.05. The business had revenue of $558.30 million during the quarter, compared to the consensus estimate of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. Equities research analysts forecast that Waters Corporation will post $7.38 EPS for the current year.
Waters Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have weighed in on WAT shares. Janney Montgomery Scott upgraded Waters Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $183.00 price objective (up from $166.00) on shares of Waters Corporation in a research report on Saturday, April 29th. Cowen and Company upped their price objective on Waters Corporation from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Monday, April 24th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $183.00 target price (up from $174.00) on shares of Waters Corporation in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Waters Corporation currently has an average rating of “Hold” and a consensus target price of $186.00.
In related news, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction dated 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 sale, the director now owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laurie H. M.D. Glimcher sold 4,800 shares of Waters Corporation stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $175.78, for a total transaction of $843,744.00. Following the completion of the sale, the director now owns 10,849 shares of the company’s stock, valued at approximately $1,907,037.22. The disclosure for this sale can be found here. In the last three months, insiders sold 98,580 shares of company stock valued at $17,730,275. Insiders own 5.07% of the company’s stock.
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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