Tokio Marine Asset Management Co. Ltd. Sells 476 Shares of Waters Corporation (NYSE:WAT)
Tokio Marine Asset Management Co. Ltd. decreased its position in Waters Corporation (NYSE:WAT) by 29.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,145 shares of the medical instruments supplier’s stock after selling 476 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Waters Corporation were worth $210,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Watermark Asset Management Inc. acquired a new position in shares of Waters Corporation during the first quarter worth approximately $106,000. Creative Planning raised its position in shares of 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. Quadrant Capital Group LLC raised its position in shares of Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock worth $124,000 after buying an additional 35 shares during the period. Advisory Services Network LLC acquired a new position in shares of Waters Corporation during the first quarter worth approximately $169,000. Finally, Van ECK Associates Corp raised its position in shares of 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. Institutional investors own 92.42% of the company’s stock.
Shares of Waters Corporation (WAT) opened at 176.64 on Wednesday. The company has a market capitalization of $14.13 billion, a P/E ratio of 26.62 and a beta of 0.84. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65. The firm has a 50-day moving average of $181.56 and a 200 day moving average of $166.35.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The business 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%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. On average, equities research analysts expect that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation announced that its board has approved a stock buyback program on Thursday, May 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts recently issued reports 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 company 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 previously 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 previously 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 lowered shares of Waters Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $186.00.
In other Waters Corporation news, SVP Elizabeth B. Rae sold 16,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $177.21, for a total value of $2,835,360.00. Following the sale, the senior vice president now owns 14,129 shares of the company’s stock, valued at approximately $2,503,800.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rohit Khanna sold 23,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the completion of the sale, the senior vice president now directly owns 27,077 shares in the company, valued at approximately $5,060,691.30. The disclosure for this sale can be found here. In the last three months, insiders sold 95,700 shares of company stock worth $17,208,237. 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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