LS Investment Advisors LLC Sells 194 Shares of Waters Corporation (WAT)
LS Investment Advisors LLC reduced its stake in shares of Waters Corporation (NYSE:WAT) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,709 shares of the medical instruments supplier’s stock after selling 194 shares during the period. LS Investment Advisors LLC’s holdings in Waters Corporation were worth $682,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Watermark Asset Management Inc. acquired a new stake in shares of Waters Corporation during the first quarter valued at about $106,000. Creative Planning increased its position 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 valued at $116,000 after buying an additional 12 shares during the last quarter. Quadrant Capital Group LLC raised its position 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 valued at $124,000 after buying an additional 35 shares during the period. Advisory Services Network LLC bought a new position in shares of Waters Corporation during the first quarter valued at approximately $169,000. Finally, Van ECK Associates Corp raised its position in shares of Waters Corporation by 7.4% in the first quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock valued at $176,000 after buying an additional 78 shares during the period. 92.06% of the stock is currently owned by institutional investors.
Shares of Waters Corporation (NYSE:WAT) traded down 0.29% on Friday, hitting $179.70. 333,163 shares of the company’s stock traded hands. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 27.08 and a beta of 0.84. The firm’s 50-day moving average price is $179.86 and its 200 day moving average price is $168.91. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (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 business had revenue of $558.30 million during the quarter, compared to the consensus estimate of $553.22 million. During the same quarter last year, the firm posted $1.58 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Waters Corporation will post $7.38 earnings per share for the current year.
Waters Corporation announced that its Board of Directors has approved a share buyback plan on Thursday, May 11th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to repurchase up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
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WAT has been the subject of several recent research reports. BidaskClub raised shares of Waters Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Wells Fargo & Company reaffirmed an “outperform” rating and set a $205.00 price target (up from $195.00) on shares of Waters Corporation in a report on Thursday, July 13th. Barclays PLC set a $160.00 price target on shares of Waters Corporation and gave the company a “hold” rating in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price target for the company in a report on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price objective on shares of Waters Corporation in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $186.00.
In related news, Director Christopher A. Kuebler sold 3,500 shares of the firm’s 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 transaction, the director now owns 17,849 shares in the company, valued at $3,206,929.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elizabeth B. Rae sold 16,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $177.21, for a total value of $2,835,360.00. Following the completion of the transaction, the senior vice president now owns 14,129 shares in the company, valued at approximately $2,503,800.09. The disclosure for this sale can be found here. Insiders have sold a total of 59,780 shares of company stock valued at $10,914,011 in the last ninety 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.
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