Westwood Management Corp IL continued to hold its stake in Waters Corporation (NYSE:WAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the medical instruments supplier’s stock at the end of the second quarter. Westwood Management Corp IL’s holdings in Waters Corporation were worth $533,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Waters Corporation by 0.4% in the second quarter. Diversified Trust Co now owns 1,285 shares of the medical instruments supplier’s stock valued at $236,000 after buying an additional 5 shares in the last quarter. Cleararc Capital Inc. increased its stake in Waters Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 1,950 shares of the medical instruments supplier’s stock valued at $305,000 after buying an additional 11 shares in the last quarter. 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 valued at $116,000 after buying an additional 12 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its stake in Waters Corporation by 1.1% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 1,516 shares of the medical instruments supplier’s stock valued at $237,000 after buying an additional 16 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock valued at $124,000 after buying an additional 35 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
Waters Corporation (NYSE WAT) traded up 0.17% during mid-day trading on Monday, hitting $185.55. The company had a trading volume of 124,900 shares. Waters Corporation has a 12-month low of $133.35 and a 12-month high of $187.65. The firm has a market capitalization of $14.85 billion, a PE ratio of 28.22 and a beta of 0.85. The company’s 50 day moving average price is $183.86 and its 200-day moving average price is $163.66.
Waters Corporation (NYSE:WAT) last posted its earnings results on Tuesday, April 25th. The medical instruments supplier reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. Waters Corporation had a net margin of 24.34% and a return on equity of 24.30%. The company had revenue of $497.97 million for the quarter, compared to analyst estimates of $489.37 million. During the same quarter in the prior year, the business posted $1.26 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that Waters Corporation will post $7.33 EPS for the current fiscal year.
Waters Corporation announced that its board has approved a stock buyback 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 generally an indication that the company’s board believes its stock is undervalued.
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Several analysts have issued reports on the company. Cantor Fitzgerald reissued a “buy” rating and issued a $190.00 price target (up previously from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Cowen and Company reissued a “hold” rating and issued a $190.00 price target on shares of Waters Corporation in a research note on Friday, July 14th. Barclays PLC set a $160.00 price target on Waters Corporation and gave the company a “hold” rating in a research note on Wednesday, April 26th. Janney Montgomery Scott raised Waters Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a research note on Monday, May 1st. Finally, Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price target on the stock in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $178.85.
In related news, SVP Michael C. Harrington sold 24,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 28,073 shares in the company, valued at approximately $4,922,039.09. The transaction was disclosed in a document filed 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 dated 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 sale, 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 sold a total of 165,940 shares of company stock worth $29,321,461 in the last 90 days. 5.07% of the stock is currently owned by company 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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