Exxonmobil Investment Management Inc. TX lowered its position in Waters Co. (NYSE:WAT) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,646 shares of the medical instruments supplier’s stock after selling 1,931 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Waters were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WAT. Janus Henderson Group PLC lifted its stake in Waters by 20,670.6% in the second quarter. Janus Henderson Group PLC now owns 1,929,793 shares of the medical instruments supplier’s stock valued at $354,773,000 after buying an additional 1,920,502 shares during the last quarter. Harding Loevner LP raised its stake in shares of Waters by 207.1% during the third quarter. Harding Loevner LP now owns 2,768,174 shares of the medical instruments supplier’s stock worth $158,275,000 after purchasing an additional 1,866,848 shares during the last quarter. Koch Industries Inc. raised its stake in shares of Waters by 36,932.0% during the second quarter. Koch Industries Inc. now owns 534,742 shares of the medical instruments supplier’s stock worth $532,000 after purchasing an additional 533,298 shares during the last quarter. Fundsmith LLP raised its stake in shares of Waters by 11.7% during the second quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock worth $704,834,000 after purchasing an additional 401,420 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Waters by 157.5% during the third quarter. Mackenzie Financial Corp now owns 651,400 shares of the medical instruments supplier’s stock worth $116,939,000 after purchasing an additional 398,438 shares during the last quarter. Institutional investors own 92.12% of the company’s stock.
WAT has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on Waters in a research note on Tuesday, September 26th. They set a “hold” rating and a $180.00 price target for the company. Morgan Stanley restated an “underweight” rating and set a $192.00 price target (up previously from $183.00) on shares of Waters in a research note on Friday, October 6th. Cleveland Research cut Waters from a “buy” rating to a “neutral” rating in a research note on Monday, October 9th. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $211.00 price target for the company in a research note on Monday, October 23rd. Finally, Robert W. Baird upped their price target on Waters from $196.00 to $199.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $197.33.
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, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.03. The firm had revenue of $565.58 million during the quarter, compared to analysts’ expectations of $555.25 million. Waters had a return on equity of 23.61% and a net margin of 24.34%. Waters’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 earnings per share. equities analysts expect that Waters Co. will post 7.42 EPS for the current fiscal year.
In other Waters news, SVP Elizabeth B. Rae sold 12,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $197.95, for a total value of $2,375,400.00. Following the completion of the transaction, the senior vice president now owns 18,129 shares in the company, valued at $3,588,635.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rohit Khanna sold 26,913 shares of the stock in a transaction on Friday, October 27th. The stock was 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 owns 13,677 shares of the company’s stock, valued at approximately $2,707,088.61. The disclosure for this sale can be found here. Insiders sold 93,159 shares of company stock valued at $18,412,172 in the last quarter. 5.07% of the stock is currently owned by company insiders.
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.
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