Waters Corporation (NYSE:WAT) Position Held by Bp Plc
Bp Plc held its stake in shares of Waters Corporation (NYSE:WAT) during the second quarter, Holdings Channel reports. The fund owned 10,000 shares of the medical instruments supplier’s stock at the end of the second quarter. Bp Plc’s holdings in Waters Corporation were worth $1,838,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Watermark Asset Management Inc. purchased a new stake in shares of Waters Corporation during the first quarter valued at $106,000. Creative Planning increased 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 last quarter. Quadrant Capital Group LLC increased 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 last quarter. First Manhattan Co. bought a new position in shares of Waters Corporation during the second quarter worth approximately $130,000. Finally, Advisory Services Network LLC bought a new position in shares of Waters Corporation during the first quarter worth approximately $169,000. 92.42% of the stock is owned by hedge funds and other institutional investors.
Waters Corporation (WAT) opened at 177.03 on Friday. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The firm has a market capitalization of $14.13 billion, a P/E ratio of 26.68 and a beta of 0.84. The stock’s 50 day moving average price is $180.41 and its 200 day moving average price is $167.57.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data 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 company had revenue of $558.30 million during 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 business posted $1.58 earnings per share. On average, analysts forecast that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation announced that its board has authorized a stock buyback program on Thursday, May 11th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical instruments supplier to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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WAT has been the subject of a number of research reports. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research note on Monday, April 24th. Cantor Fitzgerald restated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Cowen and Company lifted their target price 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. Barclays PLC set a $160.00 target price on Waters Corporation and gave the company a “hold” rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $183.00 target price (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $186.00.
In other news, SVP Eugene G. Cassis sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $177.81, for a total transaction of $533,430.00. Following the completion of the sale, the senior vice president now owns 25,027 shares of the company’s stock, valued at $4,450,050.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael C. Harrington sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $175.33, for a total transaction of $4,207,920.00. Following the sale, the senior vice president now directly owns 28,073 shares of the company’s stock, valued at approximately $4,922,039.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,580 shares of company stock valued at $17,730,275. 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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