Accredited Investors Inc. purchased a new stake in shares of Waters Co. (NYSE:WAT) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 953 shares of the medical instruments supplier’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of Waters during the first quarter valued at about $293,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Waters during the first quarter valued at about $43,000. Pennsylvania Trust Co increased its position in shares of Waters by 880.5% during the first quarter. Pennsylvania Trust Co now owns 50,484 shares of the medical instruments supplier’s stock valued at $2,560,000 after buying an additional 45,335 shares during the period. WP Advisors LLC purchased a new stake in Waters in the first quarter worth about $131,000. Finally, W.E. Donoghue & Co. LLC purchased a new stake in Waters in the first quarter worth about $2,785,000. Institutional investors own 95.90% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Waters from a “hold” rating to a “buy” rating and set a $256.00 price objective on the stock in a report on Wednesday, January 30th. TheStreet cut shares of Waters from a “b” rating to a “c+” rating in a report on Thursday, December 20th. BTIG Research upped their price objective on shares of Waters to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. Barclays restated a “hold” rating and issued a $200.00 price objective on shares of Waters in a report on Friday, January 25th. Finally, Needham & Company LLC assumed coverage on shares of Waters in a report on Wednesday, January 2nd. They issued a “hold” rating and a $177.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Waters presently has a consensus rating of “Hold” and a consensus target price of $208.99.
In related news, Director Thomas P. Salice sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $231.59, for a total transaction of $463,180.00. Following the transaction, the director now owns 20,010 shares in the company, valued at $4,634,115.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Terrence P. Kelly sold 2,006 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $239.69, for a total transaction of $480,818.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,032 shares of company stock worth $24,284,760. Corporate insiders own 0.98% of the company’s stock.
Shares of NYSE:WAT traded down $1.01 during trading on Wednesday, reaching $239.70. 8,141 shares of the stock traded hands, compared to its average volume of 420,428. Waters Co. has a 52-week low of $167.93 and a 52-week high of $255.21. The company has a quick ratio of 5.28, a current ratio of 5.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.46 and a beta of 1.19.
Waters (NYSE:WAT) last posted its quarterly earnings results on Wednesday, January 23rd. The medical instruments supplier reported $2.87 EPS for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.23. Waters had a net margin of 24.54% and a return on equity of 34.18%. The firm had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $702.74 million. During the same quarter in the prior year, the company posted $2.51 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Waters Co. will post 9.35 earnings per share for the current year.
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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