Daiwa Securities Group Inc. raised its position in shares of Waters Corporation (NYSE:WAT) by 71.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,850 shares of the medical instruments supplier’s stock after buying an additional 1,600 shares during the period. Daiwa Securities Group Inc.’s holdings in Waters Corporation were worth $708,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in 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 worth $497,000 after buying an additional 3,500 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in 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 worth $10,792,000 after buying an additional 1,707 shares during the period. Raymond James Trust N.A. acquired a new stake in Waters Corporation during the first quarter worth approximately $272,000. Creative Planning boosted 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 worth $116,000 after buying an additional 12 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in Waters Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 24,422 shares of the medical instruments supplier’s stock worth $3,817,000 after buying an additional 260 shares during the period. Institutional investors own 92.42% of the company’s stock.
Waters Corporation (WAT) opened at 177.03 on Friday. 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 12 month low of $133.35 and a 12 month high of $187.65. The company’s 50-day moving average price is $180.41 and its 200 day moving average price is $167.57.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $558.30 million for the quarter, compared to analysts’ expectations of $553.22 million. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that Waters Corporation will post $7.38 earnings per share for the current fiscal 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 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 often a sign that the company’s management believes its stock is undervalued.
WAT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Monday, April 24th. Cantor Fitzgerald restated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Cowen and Company raised their price objective on Waters Corporation from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 26th. Barclays PLC set a $160.00 price objective on Waters Corporation and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $183.00 price objective (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Waters Corporation has an average rating of “Hold” and an average price target of $186.00.
In related news, SVP Michael C. Harrington sold 24,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $175.33, for a total value of $4,207,920.00. Following the transaction, the senior vice president now directly owns 28,073 shares of the company’s stock, valued at approximately $4,922,039.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total value of $628,845.00. Following the completion of the transaction, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. Insiders have sold 98,580 shares of company stock worth $17,730,275 in the last 90 days. Insiders own 5.07% of the company’s stock.
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.
Want to see what other hedge funds are holding WAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waters Corporation (NYSE:WAT).
Receive News & Ratings for Waters Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waters Corporation and related companies with MarketBeat.com's FREE daily email newsletter.