6,620 Shares in Waters Co. (WAT) Acquired by Sciencast Management LP
Sciencast Management LP acquired a new stake in shares of Waters Co. (NYSE:WAT) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,620 shares of the medical instruments supplier’s stock, valued at approximately $1,374,000. Waters accounts for about 0.7% of Sciencast Management LP’s investment portfolio, making the stock its 27th largest position.
Several other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in Waters by 59.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,429,049 shares of the medical instruments supplier’s stock valued at $276,078,000 after acquiring an additional 530,949 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in Waters during the first quarter valued at $60,892,000. Citigroup Inc. grew its stake in Waters by 332.5% during the first quarter. Citigroup Inc. now owns 275,976 shares of the medical instruments supplier’s stock valued at $54,822,000 after acquiring an additional 212,163 shares in the last quarter. Bamco Inc. NY purchased a new position in Waters during the first quarter valued at $33,466,000. Finally, Deutsche Bank AG grew its stake in Waters by 82.9% during the fourth quarter. Deutsche Bank AG now owns 351,977 shares of the medical instruments supplier’s stock valued at $67,994,000 after acquiring an additional 159,576 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.
In related news, SVP Michael C. Harrington sold 15,000 shares of Waters stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $194.64, for a total transaction of $2,919,600.00. Following the completion of the transaction, the senior vice president now directly owns 17,037 shares of the company’s stock, valued at approximately $3,316,081.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joann A. Reed sold 2,090 shares of Waters stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $195.77, for a total transaction of $409,159.30. Following the transaction, the director now directly owns 17,932 shares of the company’s stock, valued at $3,510,547.64. The disclosure for this sale can be found here. Insiders sold a total of 36,689 shares of company stock valued at $7,130,365 over the last three months. Corporate insiders own 0.98% of the company’s stock.
Waters (NYSE:WAT) last issued its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.04. Waters had a net margin of 1.14% and a return on equity of 25.80%. The business had revenue of $530.70 million during the quarter, compared to analysts’ expectations of $534.17 million. During the same period last year, the company posted $1.46 EPS. The business’s revenue was up 6.6% on a year-over-year basis. research analysts expect that Waters Co. will post 8.21 EPS for the current fiscal year.
Waters declared that its board has approved a share repurchase program on Tuesday, April 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical instruments supplier to purchase up to 18.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several research firms recently weighed in on WAT. Zacks Investment Research cut shares of Waters from a “buy” rating to a “hold” rating in a research note on Monday, March 26th. Leerink Swann set a $214.00 target price on shares of Waters and gave the company a “buy” rating in a research note on Wednesday, April 25th. Morgan Stanley cut their target price on shares of Waters from $218.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 25th. Cowen reaffirmed a “hold” rating and set a $215.00 target price on shares of Waters in a research note on Wednesday, April 25th. Finally, Robert W. Baird cut their target price on shares of Waters from $220.00 to $201.00 and set an “outperform” rating for the company in a research note on Wednesday, April 25th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $207.31.
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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