Generation Investment Management LLP cut its holdings in shares of Waters Co. (NYSE:WAT) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,776 shares of the medical instruments supplier’s stock after selling 556 shares during the quarter. Generation Investment Management LLP owned about 0.52% of Waters worth $91,439,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Waters by 4.8% during the first quarter. BlackRock Inc. now owns 4,955,424 shares of the medical instruments supplier’s stock worth $1,408,183,000 after buying an additional 225,071 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Waters by 2.5% during the first quarter. Geode Capital Management LLC now owns 1,033,254 shares of the medical instruments supplier’s stock worth $293,103,000 after buying an additional 25,417 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Waters by 9.5% during the first quarter. Champlain Investment Partners LLC now owns 987,075 shares of the medical instruments supplier’s stock worth $280,497,000 after buying an additional 85,275 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Waters by 11.4% during the fourth quarter. Select Equity Group L.P. now owns 627,284 shares of the medical instruments supplier’s stock worth $155,203,000 after buying an additional 63,944 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Waters during the fourth quarter worth approximately $128,787,000. Institutional investors own 87.25% of the company’s stock.
A number of brokerages have recently commented on WAT. Evercore ISI upgraded Waters from an “in-line” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Tuesday, July 6th. Wells Fargo & Company upped their target price on Waters from $280.00 to $290.00 and gave the company an “underweight” rating in a research note on Thursday, May 6th. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $378.00 target price for the company in a research note on Wednesday, July 7th. Finally, SVB Leerink upped their target price on Waters from $290.00 to $300.00 and gave the company a “market perform” rating in a research note on Thursday, May 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $278.80.
Waters (NYSE:WAT) last announced its earnings results on Wednesday, May 5th. The medical instruments supplier reported $2.29 EPS for the quarter, topping the consensus estimate of $1.57 by $0.72. The company had revenue of $608.55 million for the quarter, compared to analysts’ expectations of $522.81 million. Waters had a return on equity of 1,107.70% and a net margin of 24.56%. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. As a group, research analysts expect that Waters Co. will post 10.04 earnings per share for the current year.
In other news, Director Linda Baddour sold 1,249 shares of the firm’s stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $314.99, for a total transaction of $393,422.51. Following the sale, the director now owns 3,046 shares of the company’s stock, valued at $959,459.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Berendt sold 1,161 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $318.24, for a total value of $369,476.64. Following the sale, the director now directly owns 21,255 shares in the company, valued at approximately $6,764,191.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Waters Company Profile
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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