Russell Investments Group Ltd. Increases Stake in Waters Corporation (NYSE:WAT)

Russell Investments Group Ltd. increased its position in Waters Corporation (NYSE:WAT) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,223 shares of the medical instruments supplier’s stock after acquiring an additional 6,855 shares during the period. Russell Investments Group Ltd. owned approximately 0.24% of Waters worth $33,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WAT. OppenheimerFunds Inc. grew its position in Waters by 2.0% during the 1st quarter. OppenheimerFunds Inc. now owns 1,750 shares of the medical instruments supplier’s stock worth $274,000 after purchasing an additional 35 shares during the period. Dimensional Fund Advisors LP grew its position in Waters by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 207,633 shares of the medical instruments supplier’s stock worth $32,455,000 after purchasing an additional 3,187 shares during the period. Louisiana State Employees Retirement System grew its position in Waters by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,000 shares of the medical instruments supplier’s stock worth $919,000 after purchasing an additional 100 shares during the period. US Bancorp DE grew its position in Waters by 1.1% during the 2nd quarter. US Bancorp DE now owns 15,569 shares of the medical instruments supplier’s stock worth $2,862,000 after purchasing an additional 166 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Waters during the 2nd quarter worth about $279,000. Institutional investors own 92.29% of the company’s stock.

Waters Corporation (NYSE WAT) traded up $1.27 during mid-day trading on Thursday, hitting $196.47. 388,158 shares of the stock traded hands, compared to its average volume of 514,504. The stock has a market cap of $15,450.08, a price-to-earnings ratio of 26.98, a PEG ratio of 2.82 and a beta of 0.82. The company has a current ratio of 6.16, a quick ratio of 5.71 and a debt-to-equity ratio of 0.66. Waters Corporation has a 1 year low of $133.71 and a 1 year high of $201.95.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.03. Waters had a net margin of 24.34% and a return on equity of 23.61%. The firm had revenue of $565.58 million for the quarter, compared to analyst estimates of $555.25 million. During the same quarter in the previous year, the company earned $1.57 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts forecast that Waters Corporation will post 7.42 EPS for the current fiscal year.

WAT has been the topic of several analyst reports. Barclays increased their price target on Waters from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 25th. Deutsche Bank raised their target price on Waters from $199.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Citigroup restated a “neutral” rating and set a $180.00 target price on shares of Waters in a research report on Wednesday, October 25th. Robert W. Baird lifted their price objective on Waters from $196.00 to $199.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Jefferies Group reiterated a “hold” rating and issued a $175.00 price objective on shares of Waters in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $193.62.

In other Waters news, Director William J. Miller sold 3,500 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $194.94, for a total value of $682,290.00. Following the completion of the transaction, the director now owns 25,849 shares in the company, valued at $5,039,004.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rohit Khanna sold 26,913 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $197.93, for a total transaction of $5,326,890.09. Following the completion of the transaction, the senior vice president now owns 13,677 shares of the company’s stock, valued at approximately $2,707,088.61. The disclosure for this sale can be found here. Insiders sold a total of 64,313 shares of company stock valued at $12,503,037 in the last quarter. 5.07% of the stock is owned by insiders.

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Waters Profile

Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.

Institutional Ownership by Quarter for Waters (NYSE:WAT)

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