Franklin Resources Inc. grew its stake in shares of Waters Corporation (NYSE:WAT) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 927,227 shares of the medical instruments supplier’s stock after acquiring an additional 28,229 shares during the quarter. Franklin Resources Inc. owned about 1.16% of Waters Corporation worth $170,461,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of WAT. Oppenheimer Asset Management Inc. increased its position in Waters Corporation by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 2 shares in the last quarter. Watermark Asset Management Inc. purchased a new position in Waters Corporation in the 1st quarter worth approximately $106,000. First Manhattan Co. purchased a new position in Waters Corporation in the 2nd quarter worth approximately $130,000. Creative Planning boosted its holdings in Waters Corporation by 1.6% in the 1st quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock worth $116,000 after acquiring an additional 12 shares during the period. Finally, Atria Investments LLC purchased a new position in Waters Corporation in the 2nd quarter worth approximately $202,000. 91.12% of the stock is owned by institutional investors.
Several research firms have recently commented on WAT. BidaskClub upgraded Waters Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Wells Fargo & Company reiterated an “outperform” rating and set a $205.00 target price (up from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price objective on the stock in a research note on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and set a $175.00 price objective on shares of Waters Corporation in a research note on Thursday, August 31st. Finally, Cowen and Company restated a “hold” rating and set a $190.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Waters Corporation has an average rating of “Hold” and an average price target of $186.00.
Shares of Waters Corporation (NYSE:WAT) traded down 0.84% on Friday, hitting $187.73. The stock had a trading volume of 527,206 shares. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 28.29 and a beta of 0.83. The firm has a 50 day moving average price of $181.05 and a 200-day moving average price of $173.48. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $190.39.
Waters Corporation (NYSE:WAT) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The business had revenue of $558.30 million during the quarter, compared to analyst estimates of $553.22 million. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Waters Corporation will post $7.38 EPS for the current year.
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In other Waters Corporation news, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the transaction, the director now owns 17,849 shares in the company, valued at approximately $3,206,929.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rohit Khanna sold 18,400 shares of Waters Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $185.78, for a total value of $3,418,352.00. Following the transaction, the senior vice president now owns 22,477 shares of the company’s stock, valued at approximately $4,175,777.06. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by insiders.
Waters Corporation Company 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.
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