Rothschild Asset Management Inc. cut its position in shares of Waters Corporation (NYSE:WAT) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 2,595 shares of the medical instruments supplier’s stock after selling 368 shares during the period. Rothschild Asset Management Inc.’s holdings in Waters Corporation were worth $477,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Waters Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,497,760 shares of the medical instruments supplier’s stock worth $1,171,975,000 after buying an additional 216,162 shares during the period. BlackRock Inc. raised its position in shares of 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 during the period. State Street Corp raised its position in shares of Waters Corporation by 1.7% in the first quarter. State Street Corp now owns 3,446,000 shares of the medical instruments supplier’s stock worth $538,641,000 after buying an additional 58,746 shares during the period. Fundsmith LLP raised its position in shares of 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 during the period. Finally, Janus Capital Management LLC raised its position in shares of 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 during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Waters Corporation (NYSE:WAT) opened at 177.03 on Friday. The firm has a market capitalization of $14.13 billion, a PE ratio of 26.68 and a beta of 0.84. The firm has a 50-day moving average of $180.41 and a 200 day moving average of $167.57. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65.

Waters Corporation (NYSE:WAT) last posted its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company had revenue of $558.30 million during the quarter, compared to analyst estimates of $553.22 million. During the same period in the prior year, the business posted $1.58 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Waters Corporation will post $7.38 earnings per share for the current year.

Waters Corporation declared that its Board of Directors has initiated a share buyback plan on Thursday, May 11th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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A number of research analysts have issued reports on the stock. 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 research report on Monday, April 24th. Bank of America Corporation restated a “neutral” rating and set a $192.00 target price (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $205.00 price target (up previously from $195.00) on shares of Waters Corporation in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price target on shares of Waters Corporation in a report on Friday, July 14th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $183.00 price target (up previously from $166.00) on shares of Waters Corporation in a report on Saturday, April 29th. Two research 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 company presently has an average rating of “Hold” and an average target price of $186.00.

In other Waters Corporation news, Director Laurie H. M.D. Glimcher sold 4,800 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $175.78, for a total transaction of $843,744.00. Following the transaction, the director now directly owns 10,849 shares of the company’s stock, valued at approximately $1,907,037.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total transaction of $628,845.00. Following the transaction, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,580 shares of company stock worth $17,730,275. Insiders own 5.07% of the company’s stock.

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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Institutional Ownership by Quarter for Waters Corporation (NYSE:WAT)

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