Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in Waters Corporation (NYSE:WAT) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,270 shares of the medical instruments supplier’s stock after selling 1,472 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Waters Corporation were worth $2,256,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Watermark Asset Management Inc. acquired a new stake in Waters Corporation during the first quarter worth $106,000. Creative Planning increased its stake in 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 period. First Manhattan Co. acquired a new stake in Waters Corporation during the second quarter worth $130,000. Advisory Services Network LLC acquired a new stake in Waters Corporation during the first quarter worth $169,000. Finally, Van ECK Associates Corp increased its stake in Waters Corporation by 7.4% in the first quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock worth $176,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Waters Corporation (NYSE:WAT) opened at 179.52 on Wednesday. The company has a market capitalization of $14.33 billion, a P/E ratio of 27.06 and a beta of 0.84. The company’s 50-day moving average is $180.09 and its 200 day moving average is $168.45. Waters Corporation has a one year low of $133.35 and a one year high of $187.65.
Waters Corporation (NYSE:WAT) last issued its 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. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. During the same period in the previous year, the firm earned $1.58 earnings per share. Waters Corporation’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 11th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently weighed in on WAT shares. Janney Montgomery Scott upgraded shares of Waters Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a report on Monday, May 1st. Deutsche Bank AG restated a “buy” rating and issued a $183.00 target price (up from $166.00) on shares of Waters Corporation in a report on Saturday, April 29th. Cantor Fitzgerald restated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Waters Corporation in a report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Monday, April 24th. Finally, BidaskClub downgraded shares of Waters Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $186.00.
In other Waters Corporation news, SVP Rohit Khanna sold 23,000 shares of Waters Corporation stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the transaction, the senior vice president now directly owns 27,077 shares of the company’s stock, valued at $5,060,691.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael C. Harrington sold 24,000 shares of Waters Corporation stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $175.33, for a total transaction of $4,207,920.00. Following the transaction, the senior vice president now directly owns 28,073 shares in the company, valued at $4,922,039.09. The disclosure for this sale can be found here. Insiders have sold 98,580 shares of company stock worth $17,730,275 over the last ninety days. 5.07% of the stock is owned by insiders.
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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