Renaissance Technologies LLC lessened its holdings in Waters Co. (NYSE:WAT) by 17.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,050,200 shares of the medical instruments supplier’s stock after selling 214,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Waters were worth $203,308,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in WAT. WP Advisors LLC purchased a new stake in shares of Waters in the second quarter valued at about $101,000. Summit Trail Advisors LLC lifted its holdings in shares of Waters by 68,148.5% in 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. Cornerstone Advisors Inc. lifted its holdings in shares of Waters by 1,651.2% in the second quarter. Cornerstone Advisors Inc. now owns 753 shares of the medical instruments supplier’s stock valued at $146,000 after purchasing an additional 710 shares in the last quarter. Ledyard National Bank lifted its holdings in shares of Waters by 300.0% in the second quarter. Ledyard National Bank now owns 1,200 shares of the medical instruments supplier’s stock valued at $232,000 after purchasing an additional 900 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in shares of Waters in the second quarter valued at about $250,000. 99.29% of the stock is currently owned by institutional investors.
In related news, SVP Elizabeth B. Rae sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $190.62, for a total transaction of $762,480.00. Following the transaction, the senior vice president now owns 9,443 shares of the company’s stock, valued at $1,800,024.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.
Shares of WAT opened at $188.26 on Wednesday. The company has a current ratio of 6.58, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. The company has a market cap of $14.60 billion, a P/E ratio of 25.13, a PEG ratio of 2.32 and a beta of 0.96. Waters Co. has a 1 year low of $177.58 and a 1 year high of $220.20.
Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, July 24th. The medical instruments supplier reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. The business had revenue of $596.20 million for the quarter, compared to the consensus estimate of $598.73 million. Waters had a net margin of 2.12% and a return on equity of 27.85%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 earnings per share. equities analysts predict that Waters Co. will post 8.12 EPS for the current year.
Several brokerages have issued reports on WAT. Cleveland Research downgraded shares of Waters from a “neutral” rating to an “underperform” rating in a report on Thursday, June 14th. Bank of America downgraded shares of Waters from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Waters from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Morgan Stanley upped their price target on shares of Waters from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, July 13th. Finally, Robert W. Baird upped their price target on shares of Waters from $201.00 to $212.00 and gave the company an “outperform” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $206.27.
Waters Company Profile
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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