Waters Co. (WAT) Holdings Cut by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in shares of Waters Co. (NYSE:WAT) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 14,305 shares of the medical instruments supplier’s stock after selling 503 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Waters were worth $2,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its position in Waters by 1.1% during the fourth quarter. BlackRock Inc. now owns 5,611,395 shares of the medical instruments supplier’s stock worth $1,084,065,000 after purchasing an additional 60,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in Waters by 59.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,429,049 shares of the medical instruments supplier’s stock worth $276,078,000 after purchasing an additional 530,949 shares in the last quarter. Geode Capital Management LLC boosted its position in Waters by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 904,436 shares of the medical instruments supplier’s stock worth $174,391,000 after purchasing an additional 27,215 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Waters by 5.5% during the fourth quarter. Glenmede Trust Co. NA now owns 853,511 shares of the medical instruments supplier’s stock worth $164,888,000 after purchasing an additional 44,501 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Waters by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 761,727 shares of the medical instruments supplier’s stock worth $147,158,000 after purchasing an additional 39,555 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

In related news, SVP David Terricciano sold 1,523 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $208.80, for a total value of $318,002.40. Following the completion of the sale, the senior vice president now owns 3,273 shares of the company’s stock, valued at $683,402.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Terrence P. Kelly sold 1,312 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $212.52, for a total value of $278,826.24. Following the completion of the sale, the senior vice president now directly owns 5,130 shares of the company’s stock, valued at approximately $1,090,227.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,329 shares of company stock valued at $3,813,677. Insiders own 0.98% of the company’s stock.

NYSE:WAT opened at $196.17 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 6.44 and a quick ratio of 2.45. The company has a market capitalization of $15.06 billion, a P/E ratio of 26.19, a P/E/G ratio of 2.24 and a beta of 0.94.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, April 24th. The medical instruments supplier reported $1.59 EPS for the quarter, beating the consensus estimate of $1.55 by $0.04. Waters had a return on equity of 25.80% and a net margin of 1.14%. The firm had revenue of $530.70 million during the quarter, compared to analysts’ expectations of $534.17 million. During the same quarter last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts forecast that Waters Co. will post 8.21 EPS for the current year.

Waters announced that its board has approved a stock repurchase plan on Tuesday, April 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire up to 18.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

WAT has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on Waters from $218.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 25th. ValuEngine upgraded Waters from a “hold” rating to a “buy” rating in a research report on Monday, March 19th. TheStreet upgraded Waters from a “c+” rating to a “b” rating in a research report on Tuesday, April 24th. Zacks Investment Research downgraded Waters from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, Barclays decreased their target price on Waters from $208.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 25th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $207.31.

Waters 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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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