Waters Corporation (WAT) Stake Lowered by Wheatland Advisors Inc.
Wheatland Advisors Inc. decreased its position in Waters Corporation (NYSE:WAT) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 3,800 shares of the medical instruments supplier’s stock after selling 400 shares during the period. Wheatland Advisors Inc.’s holdings in Waters Corporation were worth $699,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Waters Corporation by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 37,928 shares of the medical instruments supplier’s stock worth $5,929,000 after buying an additional 295 shares during the last quarter. Armstrong Henry H Associates Inc. boosted its stake in Waters Corporation by 2.4% in the first quarter. Armstrong Henry H Associates Inc. now owns 12,670 shares of the medical instruments supplier’s stock worth $1,980,000 after buying an additional 300 shares during the last quarter. Regent Investment Management LLC acquired a new stake in Waters Corporation during the first quarter worth approximately $350,000. Mountain Pacific Investment Advisers Inc. ID boosted its stake in Waters Corporation by 0.3% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 110,274 shares of the medical instruments supplier’s stock worth $17,237,000 after buying an additional 300 shares during the last quarter. Finally, Caledonia Investments PLC acquired a new stake in Waters Corporation during the first quarter worth approximately $14,068,000. Institutional investors own 92.42% of the company’s stock.
Shares of Waters Corporation (NYSE WAT) opened at 176.70 on Thursday. The company has a market capitalization of $14.13 billion, a PE ratio of 26.63 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 stock’s 50 day moving average price is $180.91 and its 200 day moving average price is $167.29.
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, topping the consensus estimate of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The firm had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. During the same quarter last year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts forecast that Waters Corporation will post $7.38 EPS for the current year.
Waters Corporation announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of brokerages recently issued reports on WAT. Bank of America Corporation restated a “neutral” rating and issued a $192.00 price objective (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Deutsche Bank AG cut Waters Corporation from a “buy” rating to a “hold” rating and boosted their price objective for the company from $183.00 to $194.00 in a research note on Monday, July 10th. Cowen and Company restated a “hold” rating and issued a $190.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $170.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research cut Waters Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Waters Corporation presently has a consensus rating of “Hold” and a consensus price target of $186.00.
In related news, SVP Rohit Khanna sold 10,000 shares of Waters Corporation stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $176.46, for a total transaction of $1,764,600.00. Following the sale, the senior vice president now owns 14,077 shares of the company’s stock, valued at approximately $2,484,027.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael F. Silveira sold 620 shares of Waters Corporation stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $172.27, for a total value of $106,807.40. Following the sale, the vice president now directly owns 1,688 shares in the company, valued at approximately $290,791.76. The disclosure for this sale can be found here. Insiders sold 99,200 shares of company stock worth $17,837,082 in the last ninety days. Corporate 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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