Chesapeake Wealth Management acquired a new stake in shares of Waters Co. (NYSE:WAT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,365 shares of the medical instruments supplier’s stock, valued at approximately $271,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Suntrust Banks Inc. raised its position in Waters by 31.9% during the first quarter. Suntrust Banks Inc. now owns 2,762 shares of the medical instruments supplier’s stock valued at $547,000 after purchasing an additional 668 shares in the last quarter. Amalgamated Bank raised its position in Waters by 10.7% during the first quarter. Amalgamated Bank now owns 11,195 shares of the medical instruments supplier’s stock valued at $2,224,000 after purchasing an additional 1,082 shares in the last quarter. Summit Trail Advisors LLC raised its position in Waters by 68,148.5% during the first quarter. Summit Trail Advisors LLC now owns 113,975 shares of the medical instruments supplier’s stock valued at $114,000 after purchasing an additional 113,808 shares in the last quarter. Cypress Capital Group raised its position in Waters by 20.7% during the first quarter. Cypress Capital Group now owns 4,158 shares of the medical instruments supplier’s stock valued at $826,000 after purchasing an additional 712 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in Waters by 7.8% during the first quarter. Xact Kapitalforvaltning AB now owns 9,092 shares of the medical instruments supplier’s stock valued at $1,806,000 after purchasing an additional 655 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.
Shares of Waters opened at $193.87 on Friday, Marketbeat.com reports. The company has a current ratio of 6.44, a quick ratio of 5.87 and a debt-to-equity ratio of 0.59. Waters Co. has a twelve month low of $171.32 and a twelve month high of $220.20. The firm has a market capitalization of $15.12 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.
Waters (NYSE:WAT) last issued its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.04. Waters had a net margin of 1.14% and a return on equity of 25.80%. The company had revenue of $530.70 million for the quarter, compared to analysts’ expectations of $534.17 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Waters’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts predict that Waters Co. will post 8.21 earnings per share for the current fiscal year.
Waters announced that its Board of Directors has approved a share buyback plan on Tuesday, April 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to buy up to 18.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several brokerages have commented on WAT. Cowen restated a “hold” rating and set a $215.00 price objective on shares of Waters in a research report on Wednesday, April 25th. ValuEngine downgraded shares of Waters from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Morgan Stanley lowered their price target on shares of Waters from $237.00 to $218.00 and set an “equal weight” rating for the company in a report on Wednesday, April 11th. Zacks Investment Research upgraded shares of Waters from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a report on Saturday, April 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $200.00 price target on shares of Waters in a report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $207.31.
In related news, Director Joann A. Reed sold 2,090 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $195.77, for a total value of $409,159.30. Following the sale, the director now owns 17,932 shares of the company’s stock, valued at $3,510,547.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael F. Silveira sold 3,521 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $190.77, for a total transaction of $671,701.17. Following the completion of the sale, the vice president now directly owns 4,470 shares in the company, valued at approximately $852,741.90. The disclosure for this sale can be found here. In the last three months, insiders sold 36,689 shares of company stock worth $7,130,365. 0.98% of the stock is currently owned by insiders.
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.
Receive News & Ratings for Waters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waters and related companies with MarketBeat.com's FREE daily email newsletter.