Mitchell Mcleod Pugh & Williams Inc. maintained its stake in shares of Waters Corporation (NYSE:WAT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,770 shares of the medical instruments supplier’s stock at the end of the second quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Waters Corporation were worth $325,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of WAT. Kentucky Retirement Systems bought a new stake in shares of Waters Corporation during the fourth quarter valued at approximately $786,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Waters Corporation during the fourth quarter valued at approximately $351,000. Highbridge Capital Management LLC bought a new stake in shares of Waters Corporation during the fourth quarter valued at approximately $5,298,000. Macquarie Group Ltd. increased its stake in shares of Waters Corporation by 1,750.0% in the fourth quarter. Macquarie Group Ltd. now owns 3,700 shares of the medical instruments supplier’s stock valued at $497,000 after buying an additional 3,500 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Waters Corporation by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 69,039 shares of the medical instruments supplier’s stock valued at $10,792,000 after buying an additional 1,707 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Waters Corporation (NYSE WAT) traded up 1.60% during trading on Wednesday, reaching $182.40. The company’s stock had a trading volume of 365,071 shares. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The company has a market capitalization of $14.56 billion, a price-to-earnings ratio of 27.49 and a beta of 0.84. The firm’s 50-day moving average price is $180.07 and its 200-day moving average price is $168.55.
Waters Corporation (NYSE:WAT) last posted its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The business had revenue of $558.30 million during the quarter, compared to the consensus estimate of $553.22 million. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical instruments supplier to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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WAT has been the subject of several analyst reports. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research note on Monday, April 24th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Waters Corporation in a report on Tuesday, April 25th. Cowen and Company upped their target price on Waters Corporation from $160.00 to $175.00 and gave the company a “market perform” rating in a report on Wednesday, April 26th. Barclays PLC set a $160.00 target price on Waters Corporation and gave the company a “hold” rating in a report on Wednesday, April 26th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $183.00 target price (up from $166.00) on shares of Waters Corporation in a report on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $186.00.
In other news, SVP Rohit Khanna sold 23,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were 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 of the company’s stock, valued at approximately $5,060,691.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher A. Kuebler sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the transaction, 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. In the last ninety days, insiders sold 98,580 shares of company stock valued at $17,730,275. 5.07% of the stock is currently owned by 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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