Waters Corporation (NYSE:WAT) Shares Sold by Ingalls & Snyder LLC
Ingalls & Snyder LLC lowered its position in Waters Corporation (NYSE:WAT) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,530 shares of the medical instruments supplier’s stock after selling 45 shares during the period. Ingalls & Snyder LLC’s holdings in Waters Corporation were worth $281,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its stake in Waters Corporation by 71.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,850 shares of the medical instruments supplier’s stock worth $708,000 after buying an additional 1,600 shares in the last quarter. Ownership Capital B.V. raised its stake in Waters Corporation by 6.3% in the second quarter. Ownership Capital B.V. now owns 435,371 shares of the medical instruments supplier’s stock worth $80,039,000 after buying an additional 25,672 shares in the last quarter. Bessemer Group Inc. raised its stake in Waters Corporation by 40.7% in the second quarter. Bessemer Group Inc. now owns 724,009 shares of the medical instruments supplier’s stock worth $133,101,000 after buying an additional 209,306 shares in the last quarter. Grandfield & Dodd LLC raised its stake in Waters Corporation by 34.5% in the second quarter. Grandfield & Dodd LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $441,000 after buying an additional 615 shares in the last quarter. Finally, IBM Retirement Fund acquired a new stake in Waters Corporation during the second quarter worth approximately $210,000. 92.42% of the stock is currently owned by institutional investors.
Shares of Waters Corporation (NYSE:WAT) opened at 176.64 on Wednesday. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 26.62 and a beta of 0.84. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The company has a 50-day moving average price of $181.56 and a 200-day moving average price 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 the consensus estimate 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 return on equity of 23.91% and a net margin of 24.26%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. Analysts forecast that Waters Corporation will post $7.38 earnings per share for the current fiscal year.
Waters Corporation announced that its Board of Directors has approved a stock repurchase 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 typically an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have recently commented on WAT. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $194.00 price target on the stock in a research report on Friday, July 28th. BidaskClub lowered Waters Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of Waters Corporation in a research report on Thursday, July 27th. 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 report on Wednesday, July 26th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $192.00 price target (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. 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 stock. The company currently has a consensus rating of “Hold” and a consensus price target of $186.00.
In other news, SVP Rohit Khanna sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $176.46, for a total value of $1,764,600.00. Following the completion of the sale, the senior vice president now directly owns 14,077 shares of the company’s stock, valued at $2,484,027.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael F. Silveira sold 620 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $172.27, for a total value of $106,807.40. Following the completion of the sale, the vice president now directly owns 1,688 shares of the company’s stock, valued at $290,791.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,700 shares of company stock valued at $17,208,237. Company 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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