Waters Corporation (NYSE:WAT) Director Christopher A. Kuebler sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the transaction, the director now owns 17,849 shares of the company’s stock, valued at $3,206,929.83. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Waters Corporation (NYSE:WAT) opened at 177.03 on Friday. The stock’s 50 day moving average price is $180.41 and its 200 day moving average price is $167.57. The stock has a market capitalization of $14.13 billion, a PE ratio of 26.68 and a beta of 0.84. Waters Corporation has a one year low of $133.35 and a one year high of $187.65.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating the consensus estimate of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The company had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. During the same period last year, the company earned $1.58 earnings per share. Waters Corporation’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that Waters Corporation will post $7.38 EPS for the current fiscal year.
Waters Corporation announced that its Board of Directors has initiated a share buyback program on Thursday, May 11th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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Several research firms have weighed in on WAT. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research note on Friday, July 28th. BidaskClub downgraded Waters Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price target on shares of Waters Corporation in a research note on Thursday, July 27th. Morgan Stanley restated an “underweight” rating and issued a $183.00 price target (up from $174.00) on shares of Waters Corporation in a research note on Wednesday, July 26th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $192.00 price target (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Waters Corporation currently has a consensus rating of “Hold” and an average price target of $186.00.
Several hedge funds have recently modified their holdings of WAT. Oppenheimer Asset Management Inc. raised its stake in shares of Waters Corporation by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after buying an additional 2 shares in the last quarter. Watermark Asset Management Inc. purchased a new stake in shares of Waters Corporation during the first quarter worth about $106,000. Creative Planning raised its stake in shares of Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock worth $116,000 after buying an additional 12 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock worth $124,000 after buying an additional 35 shares in the last quarter. Finally, First Manhattan Co. purchased a new stake in shares of Waters Corporation during the second quarter worth about $130,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
About Waters Corporation
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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