State Treasurer State of Michigan decreased its stake in Waters Corporation (NYSE:WAT) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,196 shares of the medical instruments supplier’s stock after selling 2,100 shares during the period. State Treasurer State of Michigan’s holdings in Waters Corporation were worth $4,344,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in Waters Corporation in the 3rd quarter valued at approximately $3,446,000. UBS Asset Management Americas Inc. lifted its stake in Waters Corporation by 46.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 374,472 shares of the medical instruments supplier’s stock valued at $68,843,000 after purchasing an additional 119,130 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Waters Corporation in the 2nd quarter valued at approximately $3,230,000. BlackRock Inc. lifted its stake in Waters Corporation by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,515,322 shares of the medical instruments supplier’s stock valued at $1,013,936,000 after purchasing an additional 165,611 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Waters Corporation by 6.0% in the 2nd quarter. Advisory Services Network LLC now owns 1,145 shares of the medical instruments supplier’s stock valued at $210,000 after purchasing an additional 65 shares during the last quarter. 90.95% of the stock is owned by institutional investors and hedge funds.
Shares of Waters Corporation (NYSE WAT) opened at 199.75 on Friday. The firm has a market capitalization of $15.94 billion, a PE ratio of 30.11 and a beta of 0.81. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $199.78. The stock’s 50 day moving average is $185.39 and its 200 day moving average is $179.71.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.03. Waters Corporation had a net margin of 24.34% and a return on equity of 23.61%. The company had revenue of $565.58 million during the quarter, compared to analyst estimates of $555.25 million. During the same period in the prior year, the business posted $1.57 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Waters Corporation will post $7.40 EPS for the current year.
Several equities analysts have recently issued reports on WAT shares. Zacks Investment Research raised shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price target for the company in a research note on Thursday, July 13th. Goldman Sachs Group, Inc. (The) started coverage on shares of Waters Corporation in a research note on Tuesday, September 26th. They set a “hold” rating and a $180.00 price target for the company. BidaskClub raised shares of Waters Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of Waters Corporation in a research note on Thursday, July 27th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $183.00 price target (up previously from $174.00) on shares of Waters Corporation in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $190.71.
In related news, SVP Rohit Khanna sold 18,400 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the sale, the senior vice president now directly owns 22,477 shares in the company, valued at approximately $4,175,777.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher A. Kuebler sold 3,500 shares of the company’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 sale, the director now owns 17,849 shares of the company’s stock, valued at $3,206,929.83. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.
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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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