Magnetar Financial LLC Invests $720,000 in Waters Corporation (WAT)

Magnetar Financial LLC acquired a new position in Waters Corporation (NYSE:WAT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,009 shares of the medical instruments supplier’s stock, valued at approximately $720,000.

Several other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in Waters by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after acquiring an additional 2 shares during the period. Alps Advisors Inc. raised its stake in Waters by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 3,062 shares of the medical instruments supplier’s stock worth $563,000 after acquiring an additional 8 shares during the period. Cadence Capital Management LLC raised its stake in Waters by 0.6% during the 2nd quarter. Cadence Capital Management LLC now owns 2,216 shares of the medical instruments supplier’s stock worth $407,000 after acquiring an additional 13 shares during the period. HighTower Advisors LLC raised its stake in Waters by 1.0% during the 2nd quarter. HighTower Advisors LLC now owns 2,280 shares of the medical instruments supplier’s stock worth $420,000 after acquiring an additional 23 shares during the period. Finally, Intellectus Partners LLC raised its stake in Waters by 4.9% during the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock worth $123,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.

In related news, SVP Rohit Khanna sold 26,913 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $197.93, for a total value of $5,326,890.09. Following the completion of the transaction, the senior vice president now directly owns 13,677 shares of the company’s stock, valued at $2,707,088.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Elizabeth B. Rae sold 12,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $197.95, for a total transaction of $2,375,400.00. Following the completion of the transaction, the senior vice president now directly owns 18,129 shares of the company’s stock, valued at $3,588,635.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,913 shares of company stock worth $9,084,685. Company insiders own 5.07% of the company’s stock.

Waters Corporation (NYSE:WAT) traded down $1.53 during trading on Tuesday, hitting $197.76. 595,000 shares of the stock traded hands, compared to its average volume of 514,066. The company has a market capitalization of $15,850.13, a PE ratio of 27.68, a P/E/G ratio of 2.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.71 and a current ratio of 6.16. Waters Corporation has a 52-week low of $133.71 and a 52-week high of $201.95.

Waters (NYSE:WAT) last released its quarterly earnings data on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.03. The firm had revenue of $565.58 million for the quarter, compared to analysts’ expectations of $555.25 million. Waters had a net margin of 24.34% and a return on equity of 23.61%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 earnings per share. sell-side analysts expect that Waters Corporation will post 7.42 earnings per share for the current fiscal year.

A number of research firms have commented on WAT. Goldman Sachs Group began coverage on shares of Waters in a research note on Tuesday, September 26th. They set a “hold” rating and a $180.00 target price on the stock. Barclays raised their target price on shares of Waters from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Waters from a “hold” rating to a “buy” rating and set a $211.00 target price on the stock in a research note on Monday, October 23rd. BidaskClub upgraded shares of Waters from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Finally, Citigroup restated a “neutral” rating and set a $180.00 target price on shares of Waters in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Waters has a consensus rating of “Hold” and a consensus price target of $193.62.

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Waters 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.

Institutional Ownership by Quarter for Waters (NYSE:WAT)

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