SG Americas Securities LLC increased its position in shares of Waters Corporation (NYSE:WAT) by 26.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,483 shares of the medical instruments supplier’s stock after buying an additional 3,248 shares during the period. SG Americas Securities LLC’s holdings in Waters Corporation were worth $2,846,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Watermark Asset Management Inc. bought a new stake in Waters Corporation during the first quarter worth about $106,000. Creative Planning increased its stake in 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 in the last quarter. First Manhattan Co. bought a new stake in Waters Corporation during the second quarter worth about $130,000. Advisory Services Network LLC bought a new stake in Waters Corporation during the first quarter worth about $169,000. Finally, Van ECK Associates Corp increased its stake in Waters Corporation by 7.4% in the first quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock worth $176,000 after buying an additional 78 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.
Waters Corporation (NYSE WAT) opened at 182.84 on Wednesday. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The firm has a market cap of $14.59 billion, a P/E ratio of 27.56 and a beta of 0.84. The firm’s 50-day moving average price is $179.76 and its 200-day moving average price is $169.53.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping the 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 business had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Waters Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Waters Corporation will post $7.38 EPS for the current fiscal year.
Waters Corporation declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 11th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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A number of analysts recently issued reports on WAT shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Waters Corporation in a research report on Tuesday, April 25th. Janney Montgomery Scott raised Waters Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $183.00 target price (up previously from $166.00) on shares of Waters Corporation in a research report on Saturday, April 29th. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a research report on Thursday, July 13th. Finally, BidaskClub downgraded Waters Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $186.00.
In related news, SVP Eugene G. Cassis sold 3,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $177.81, for a total transaction of $533,430.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rohit Khanna sold 23,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 27,077 shares in the company, valued at approximately $5,060,691.30. The disclosure for this sale can be found here. Insiders have sold 43,780 shares of company stock worth $8,078,651 in the last three months. 5.07% of the stock is currently owned by insiders.
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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