Banque Pictet & Cie SA increased its stake in shares of Waters Corporation (NYSE:WAT) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,330 shares of the medical instruments supplier’s stock after buying an additional 663 shares during the period. Banque Pictet & Cie SA’s holdings in Waters Corporation were worth $6,863,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI bought a new position in Waters Corporation during the first quarter valued at $276,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Waters Corporation by 3.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,742 shares of the medical instruments supplier’s stock valued at $2,148,000 after buying an additional 400 shares in the last quarter. Advisory Services Network LLC bought a new position in Waters Corporation during the first quarter valued at $169,000. Tocqueville Asset Management L.P. increased its position in Waters Corporation by 3.8% in the first quarter. Tocqueville Asset Management L.P. now owns 1,783 shares of the medical instruments supplier’s stock valued at $279,000 after buying an additional 66 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Waters Corporation by 385.1% in the first quarter. Canada Pension Plan Investment Board now owns 40,443 shares of the medical instruments supplier’s stock valued at $6,322,000 after buying an additional 32,106 shares in the last quarter. 91.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Waters Corporation (WAT) traded down 0.25% during trading on Friday, reaching $183.03. The company’s stock had a trading volume of 476,779 shares. The stock has a 50 day moving average of $179.53 and a 200-day moving average of $171.37. The company has a market capitalization of $14.61 billion, a PE ratio of 27.59 and a beta of 0.82. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65.

Waters Corporation (NYSE:WAT) last posted its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The company had revenue of $558.30 million during the quarter, compared to analysts’ expectations of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. Waters Corporation’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. On average, analysts expect that Waters Corporation will post $7.38 earnings per share for the current year.

Waters Corporation announced that its board has initiated a share repurchase program on Thursday, May 11th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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Several equities analysts have recently weighed in on the company. Bank of America Corporation reissued a “neutral” rating and set a $192.00 target price (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Deutsche Bank AG downgraded Waters Corporation from a “buy” rating to a “hold” rating and boosted their target price for the company from $183.00 to $194.00 in a research report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $175.00 target price on shares of Waters Corporation in a research report on Thursday. Cowen and Company reissued a “hold” rating and set a $190.00 target price on shares of Waters Corporation in a research report on Friday, July 14th. Finally, Zacks Investment Research downgraded Waters Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. 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 assigned 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 firm’s stock in a transaction dated 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 in the company, valued at approximately $5,060,691.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the sale, the director now 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 90 days, insiders have sold 30,780 shares of company stock valued at $5,716,221. 5.07% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Waters Corporation (NYSE:WAT)

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