Waters Corporation (NYSE:WAT) Director Christopher A. Kuebler Sells 3,500 Shares
Waters Corporation (NYSE:WAT) Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the transaction, the director now directly owns 17,849 shares of the company’s stock, valued at $3,206,929.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Waters Corporation (NYSE WAT) traded down 0.31% during midday trading on Wednesday, reaching $176.10. The company’s stock had a trading volume of 75,248 shares. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 26.54 and a beta of 0.84. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The stock’s 50 day moving average price is $181.56 and its 200 day moving average price is $166.35.
Waters Corporation (NYSE:WAT) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to analysts’ expectations of $553.22 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. Analysts predict that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation declared that its board has approved a share repurchase plan on Thursday, May 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in 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 in the last quarter. Mondrian Investment Partners LTD acquired a new position in Waters Corporation during the first quarter worth approximately $81,480,000. Nomura Asset Management Co. Ltd. boosted its position in 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 in the last quarter. Janus Capital Management LLC boosted its position in 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 in the last quarter. Finally, Fundsmith LLP boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research raised 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. Cantor Fitzgerald reissued a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and set a $175.00 price target on shares of Waters Corporation in a research note on Thursday, July 27th. Cowen and Company increased their price target on Waters Corporation from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Wednesday, April 26th. Finally, Morgan Stanley reissued an “underweight” rating and set a $183.00 price target (up from $174.00) on shares of Waters Corporation in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $186.00.
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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