Public Employees Retirement Association of Colorado Has $2.83 Million Position in Waters Corporation (NYSE:WAT)
Public Employees Retirement Association of Colorado reduced its position in shares of Waters Corporation (NYSE:WAT) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,381 shares of the medical instruments supplier’s stock after selling 37 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Waters Corporation were worth $2,828,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Waters Corporation by 2,810.7% in the first quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock worth $836,212,000 after buying an additional 5,165,917 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Waters Corporation during the first quarter worth $81,480,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Waters Corporation by 3,735.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 373,950 shares of the medical instruments supplier’s stock worth $58,452,000 after buying an additional 364,200 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Waters Corporation by 18.2% in the first quarter. Janus Capital Management LLC now owns 2,309,646 shares of the medical instruments supplier’s stock worth $361,021,000 after buying an additional 356,395 shares during the last quarter. Finally, Fundsmith LLP raised its stake in shares of Waters Corporation by 11.3% in the first quarter. Fundsmith LLP now owns 3,432,535 shares of the medical instruments supplier’s stock worth $536,540,000 after buying an additional 349,178 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.
Waters Corporation (NYSE:WAT) opened at 177.95 on Tuesday. The firm has a 50-day moving average of $182.20 and a 200-day moving average of $166.11. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 26.82 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The firm had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. During the same period in the prior year, the firm posted $1.58 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts expect 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 buyback program on Thursday, May 11th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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A number of equities research 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 raised their price objective for the company from $185.00 to $200.00 in a report on Monday, May 1st. Deutsche Bank AG reiterated a “buy” rating and set a $183.00 price target (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Cowen and Company lifted their price target on shares of Waters Corporation from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research note on Monday, April 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $170.00 price target on shares of Waters Corporation in a research note on Friday, July 14th. Two investment 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’s stock. Waters Corporation 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 the stock in a transaction on 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 in the company, valued at approximately $5,060,691.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael F. Silveira sold 620 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $172.27, for a total transaction of $106,807.40. Following the transaction, the vice president now owns 1,688 shares in the company, valued at $290,791.76. The disclosure for this sale can be found here. Insiders have sold a total of 96,700 shares of company stock worth $17,382,247 over the last quarter. 5.07% of the stock is currently owned by 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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