Los Angeles Capital Management & Equity Research Inc. reduced its stake in Waters Co. (NYSE:WAT) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,934 shares of the medical instruments supplier’s stock after selling 2,678 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.29% of Waters worth $43,206,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in WAT. WP Advisors LLC acquired a new stake in Waters in the second quarter valued at $101,000. Fort L.P. acquired a new stake in Waters in the second quarter valued at $118,000. Cornerstone Advisors Inc. raised its stake in 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 buying an additional 710 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in Waters in the third quarter valued at $201,000. Finally, First Hawaiian Bank acquired a new stake in Waters in the third quarter valued at $208,000. Institutional investors and hedge funds own 98.82% of the company’s stock.
WAT opened at $197.03 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.24 and a current ratio of 2.51. Waters Co. has a one year low of $167.93 and a one year high of $220.20. The stock has a market cap of $14.92 billion, a PE ratio of 26.31, a PEG ratio of 2.32 and a beta of 0.94.
Waters (NYSE:WAT) last posted its earnings results on Tuesday, October 23rd. The medical instruments supplier reported $1.92 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.02. Waters had a return on equity of 30.68% and a net margin of 2.32%. The business had revenue of $578.02 million for the quarter, compared to analysts’ expectations of $587.43 million. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Waters Co. will post 8.06 EPS for the current year.
In other news, Director Thomas P. Salice sold 3,500 shares of Waters stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $192.00, for a total transaction of $672,000.00. Following the sale, the director now owns 20,911 shares in the company, valued at $4,014,912. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elizabeth B. Rae sold 4,000 shares of Waters stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $190.62, for a total value of $762,480.00. Following the sale, the senior vice president now owns 9,443 shares in the company, valued at approximately $1,800,024.66. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.
A number of research firms have weighed in on WAT. Zacks Investment Research upgraded Waters from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Morgan Stanley cut their price target on Waters from $205.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 25th. Janney Montgomery Scott cut Waters from a “buy” rating to a “neutral” rating and cut their price target for the company from $230.00 to $211.00 in a research note on Tuesday, July 17th. JPMorgan Chase & Co. cut their price target on Waters from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Finally, Robert W. Baird raised their price target on Waters from $201.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $206.86.
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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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