Texas Permanent School Fund lowered its stake in shares of Waters Corporation (NYSE:WAT) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,489 shares of the medical instruments supplier’s stock after selling 911 shares during the period. Texas Permanent School Fund’s holdings in Waters Corporation were worth $4,134,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of WAT. Vanguard Group Inc. raised its stake 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 in the last quarter. BlackRock Inc. raised its stake 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 in the last quarter. State Street Corp raised its stake 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 in the last quarter. Fundsmith LLP raised its stake 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 in the last quarter. Finally, Janus Capital Management LLC raised its stake in 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 valued at $361,021,000 after buying an additional 356,395 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Shares of Waters Corporation (WAT) traded up 0.78% during mid-day trading on Friday, hitting $177.03. The company’s stock had a trading volume of 414,729 shares. The stock 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. The company has a market cap of $14.13 billion, a PE ratio of 26.68 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last released its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 23.91% and a net margin of 24.26%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.58 earnings per share. On average, equities research analysts forecast that Waters Corporation will post $7.38 EPS for the current year.
Waters Corporation declared that its board has initiated a share repurchase plan on Thursday, May 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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WAT has been the topic of several recent research reports. Zacks Investment Research lowered Waters Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub lowered Waters Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $183.00 target price (up from $174.00) on shares of Waters Corporation in a research note on Wednesday, July 26th. Bank of America Corporation reaffirmed a “neutral” rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $183.00 target price (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $186.00.
In other news, SVP Michael C. Harrington sold 24,000 shares of Waters Corporation stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $175.33, for a total value of $4,207,920.00. Following the completion of the transaction, the senior vice president now owns 28,073 shares in the company, valued at $4,922,039.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rohit Khanna sold 10,000 shares of Waters Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $176.46, for a total transaction of $1,764,600.00. Following the completion of the transaction, the senior vice president now owns 14,077 shares of the company’s stock, valued at approximately $2,484,027.42. 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 ninety days. Company 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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