TIAA CREF Investment Management LLC raised its stake in Waters Corporation (NYSE:WAT) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,139 shares of the medical instruments supplier’s stock after purchasing an additional 31,726 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.51% of Waters Corporation worth $74,848,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings 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 valued at $105,000 after purchasing an additional 2 shares during the period. Watermark Asset Management Inc. bought a new stake in Waters Corporation in the 1st quarter valued at $106,000. First Manhattan Co. bought a new stake in Waters Corporation in the 2nd quarter valued at $130,000. Van ECK Associates Corp boosted its holdings 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 valued at $176,000 after purchasing an additional 78 shares during the period. Finally, Atria Investments LLC bought a new stake in Waters Corporation in the 2nd quarter valued at $202,000. 91.00% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on WAT. BidaskClub raised shares of Waters Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Wells Fargo & Company restated an “outperform” rating and issued a $205.00 price objective (up previously from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price objective for the company in a research note on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective on shares of Waters Corporation in a research note on Thursday, August 31st. Finally, Cowen and Company restated a “hold” rating and issued a $190.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. 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 187.73 on Monday. The firm has a market cap of $14.99 billion, a PE ratio of 28.29 and a beta of 0.83. The company’s 50 day moving average is $181.05 and its 200-day moving average is $173.48. 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 earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. The company had revenue of $558.30 million during the quarter, compared to analysts’ expectations of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. Waters Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 earnings per share. Equities research analysts predict that Waters Corporation will post $7.38 EPS for the current year.
In related news, SVP Rohit Khanna sold 18,400 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the sale, the senior vice president now owns 22,477 shares of the company’s stock, valued at $4,175,777.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the sale, the director now directly owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. Insiders own 5.07% of the company’s stock.
Waters Corporation 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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