Riverhead Capital Management LLC Decreases Holdings in Waters Corporation (WAT)
Riverhead Capital Management LLC trimmed its holdings in Waters Corporation (NYSE:WAT) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,078 shares of the medical instruments supplier’s stock after selling 233 shares during the quarter. Riverhead Capital Management LLC’s holdings in Waters Corporation were worth $382,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WAT. Oppenheimer Asset Management Inc. lifted its stake in Waters Corporation by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 2 shares in the last quarter. Watermark Asset Management Inc. purchased a new position in Waters Corporation in the 1st quarter worth approximately $106,000. First Manhattan Co. purchased a new position in Waters Corporation in the 2nd quarter worth approximately $130,000. Van ECK Associates Corp lifted its stake in Waters Corporation by 7.4% in the 1st quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock worth $176,000 after purchasing an additional 78 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Waters Corporation in the 2nd quarter worth approximately $202,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.
In other Waters Corporation news, 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 transaction of $628,845.00. Following the transaction, the director now owns 17,849 shares of the company’s stock, valued at $3,206,929.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Rohit Khanna sold 18,400 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the transaction, the senior vice president now directly owns 22,477 shares in the company, valued at approximately $4,175,777.06. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.
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WAT has been the topic of a number of research reports. Zacks Investment Research lowered shares of Waters Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Deutsche Bank AG lowered shares of Waters Corporation from a “buy” rating to a “hold” rating and raised their target price for the stock from $183.00 to $194.00 in a research note on Monday, July 10th. Wells Fargo & Company reissued an “outperform” rating and issued a $205.00 target price (up from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target on shares of Waters Corporation in a report on Friday, July 14th. Finally, Cowen and Company restated a “hold” rating and set a $190.00 price target on shares of Waters Corporation in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $186.00.
Shares of Waters Corporation (NYSE:WAT) opened at 181.16 on Friday. The company has a 50-day moving average of $181.80 and a 200 day moving average of $174.21. The firm has a market cap of $14.46 billion, a P/E ratio of 27.30 and a beta of 0.83. Waters Corporation has a 12-month low of $133.35 and a 12-month high of $190.39.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Equities research analysts anticipate that Waters Corporation will post $7.38 earnings per share for the current fiscal year.
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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