Piedmont Investment Advisors Inc. lifted its holdings in shares of Waters Co. (NYSE:WAT) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,227 shares of the medical instruments supplier’s stock after purchasing an additional 58 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Waters were worth $1,567,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Waters by 5.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,863,115 shares of the medical instruments supplier’s stock worth $917,426,000 after acquiring an additional 267,576 shares during the last quarter. Geode Capital Management LLC increased its holdings in Waters by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,025,341 shares of the medical instruments supplier’s stock worth $193,104,000 after acquiring an additional 50,700 shares during the last quarter. Northern Trust Corp increased its holdings in Waters by 0.7% in the 4th quarter. Northern Trust Corp now owns 936,954 shares of the medical instruments supplier’s stock worth $176,756,000 after acquiring an additional 6,919 shares during the last quarter. Norges Bank purchased a new stake in Waters in the 4th quarter worth about $130,150,000. Finally, Morgan Stanley increased its holdings in Waters by 188.1% in the 3rd quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock worth $102,707,000 after acquiring an additional 344,432 shares during the last quarter. Institutional investors own 94.58% of the company’s stock.
In other Waters news, SVP Robert G. Carson sold 2,724 shares of Waters stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $241.23, for a total transaction of $657,110.52. Following the completion of the transaction, the senior vice president now owns 3,898 shares of the company’s stock, valued at approximately $940,314.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Terrence P. Kelly sold 2,006 shares of Waters stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $239.69, for a total value of $480,818.14. The disclosure for this sale can be found here. Insiders have sold a total of 7,730 shares of company stock valued at $1,856,849 in the last ninety days. Insiders own 1.14% of the company’s stock.
WAT stock opened at $206.25 on Friday. The company has a quick ratio of 2.89, a current ratio of 3.44 and a debt-to-equity ratio of 1.15. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 2.18 and a beta of 1.08. Waters Co. has a twelve month low of $167.93 and a twelve month high of $255.21.
Waters (NYSE:WAT) last posted its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.13). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $545.82 million. Waters had a net margin of 24.59% and a return on equity of 39.64%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. Sell-side analysts expect that Waters Co. will post 9.11 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Waters from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group decreased their price objective on Waters from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Robert W. Baird decreased their price objective on Waters from $211.00 to $209.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Barclays decreased their price objective on Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Finally, ValuEngine lowered Waters from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Waters currently has an average rating of “Hold” and an average target price of $212.26.
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Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, 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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