Allianz Asset Management GmbH lessened its stake in shares of Waters Co. (NYSE:WAT) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,678 shares of the medical instruments supplier’s stock after selling 4,982 shares during the quarter. Allianz Asset Management GmbH’s holdings in Waters were worth $3,115,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Rampart Investment Management Company LLC boosted its stake in Waters by 462.1% during the first quarter. Rampart Investment Management Company LLC now owns 5,570 shares of the medical instruments supplier’s stock worth $1,106,000 after buying an additional 4,579 shares during the period. HRT Financial LLC purchased a new position in shares of Waters in the first quarter valued at approximately $695,000. FIL Ltd boosted its stake in shares of Waters by 0.5% in the first quarter. FIL Ltd now owns 59,953 shares of the medical instruments supplier’s stock valued at $11,910,000 after purchasing an additional 311 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Waters by 4.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 358,982 shares of the medical instruments supplier’s stock valued at $71,312,000 after purchasing an additional 14,076 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in shares of Waters by 10.3% in the first quarter. Champlain Investment Partners LLC now owns 591,420 shares of the medical instruments supplier’s stock valued at $117,486,000 after purchasing an additional 55,395 shares during the period. 92.17% of the stock is owned by institutional investors.
In related news, SVP Michael C. Harrington sold 16,078 shares of Waters stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $194.67, for a total value of $3,129,904.26. Following the completion of the transaction, the senior vice president now owns 18,115 shares in the company, valued at $3,526,447.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael C. Harrington sold 15,000 shares of Waters stock in a transaction that occurred on Friday, June 1st. The stock was 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 owns 17,037 shares of the company’s stock, valued at approximately $3,316,081.68. The disclosure for this sale can be found here. Insiders sold 36,689 shares of company stock valued at $7,130,365 in the last quarter. 0.98% of the stock is owned by insiders.
Shares of Waters stock opened at $192.12 on Wednesday. Waters Co. has a 52-week low of $171.32 and a 52-week high of $220.20. The company has a quick ratio of 5.87, a current ratio of 6.44 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $15.19 billion, a P/E ratio of 25.65, a PEG ratio of 2.26 and a beta of 0.94.
Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, April 24th. The medical instruments supplier reported $1.59 earnings per share (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 company had revenue of $530.70 million during the quarter, compared to the consensus estimate of $534.17 million. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. equities research analysts anticipate that Waters Co. will post 8.21 EPS for the current fiscal year.
Waters declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 18.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on WAT. Zacks Investment Research lowered 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 price objective on shares of Waters and gave the company a “buy” rating in a research note on Wednesday, April 25th. Morgan Stanley lowered their price objective 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 reissued a “hold” rating and issued a $215.00 price objective on shares of Waters in a research note on Wednesday, April 25th. Finally, Robert W. Baird lowered their price objective 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Waters presently has a consensus 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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