Candriam Luxembourg S.C.A. reduced its stake in Waters Corporation (NYSE:WAT) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,566 shares of the medical instruments supplier’s stock after selling 1,103 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Waters Corporation were worth $2,310,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of WAT. Watermark Asset Management Inc. purchased a new stake in shares of Waters Corporation during the first quarter valued at about $106,000. Creative Planning raised its stake 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 valued at $116,000 after buying an additional 12 shares during the last quarter. Quadrant Capital Group LLC raised its stake 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 valued at $124,000 after buying an additional 35 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Waters Corporation during the second quarter valued at about $130,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Waters Corporation during the first quarter valued at about $169,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waters Corporation (NYSE WAT) opened at 175.66 on Friday. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 26.47 and a beta of 0.84. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65. The company’s 50 day moving average price is $180.63 and its 200-day moving average price is $167.35.
Waters Corporation (NYSE:WAT) last released its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. The firm had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. On average, equities analysts forecast that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation declared that its board has authorized a stock 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 repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $194.00 target price on the stock in a research note on Friday, July 28th. BidaskClub lowered Waters Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 target price on shares of Waters Corporation in a research note on Thursday, July 27th. Morgan Stanley restated an “underweight” rating and issued a $183.00 target price (up from $174.00) on shares of Waters Corporation in a research note on Wednesday, July 26th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $192.00 target price (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $186.00.
In related news, SVP Rohit Khanna sold 23,000 shares of Waters Corporation stock in a transaction on Friday, June 9th. The stock was sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the transaction, the senior vice president now directly owns 27,077 shares in the company, valued at $5,060,691.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laurie H. M.D. Glimcher sold 4,800 shares of Waters Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $175.78, for a total value of $843,744.00. Following the transaction, the director now owns 10,849 shares in the company, valued at $1,907,037.22. The disclosure for this sale can be found here. Insiders have sold 98,580 shares of company stock worth $17,730,275 over the last quarter. 5.07% of the stock is owned by company insiders.
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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