Russell Investments Group Ltd. boosted its holdings in shares of Waters Co. (NYSE:WAT) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,864 shares of the medical instruments supplier’s stock after purchasing an additional 14,639 shares during the quarter. Russell Investments Group Ltd.’s holdings in Waters were worth $20,680,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in Waters by 110.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 168 shares of the medical instruments supplier’s stock valued at $33,000 after purchasing an additional 88 shares during the period. NuWave Investment Management LLC bought a new stake in Waters during the 3rd quarter valued at approximately $39,000. Perpetual Ltd bought a new stake in Waters during the 3rd quarter valued at approximately $43,000. Point72 Hong Kong Ltd bought a new stake in Waters during the 3rd quarter valued at approximately $89,000. Finally, Van ECK Associates Corp increased its stake in Waters by 20.2% in the 3rd quarter. Van ECK Associates Corp now owns 482 shares of the medical instruments supplier’s stock worth $94,000 after acquiring an additional 81 shares during the last quarter. 91.80% of the stock is currently owned by institutional investors.
In related news, Director Edward Conard sold 1,322 shares of the business’s stock in a transaction on Friday, December 4th. The stock was sold at an average price of $236.59, for a total transaction of $312,771.98. Following the completion of the transaction, the director now owns 71,865 shares in the company, valued at approximately $17,002,540.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joann A. Reed sold 4,759 shares of the business’s stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $282.39, for a total value of $1,343,894.01. Following the transaction, the director now owns 36,683 shares of the company’s stock, valued at approximately $10,358,912.37. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Waters (NYSE:WAT) last announced its earnings results on Monday, February 1st. The medical instruments supplier reported $3.65 EPS for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.76. Waters had a negative return on equity of 349.31% and a net margin of 22.61%. During the same period in the previous year, the business posted $3.20 earnings per share. Equities analysts expect that Waters Co. will post 7.94 EPS for the current year.
A number of research firms have issued reports on WAT. KeyCorp began coverage on Waters in a research note on Monday, November 9th. They issued a “sector weight” rating and a $235.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Waters from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. Cleveland Research raised Waters from an “underperform” rating to a “buy” rating in a research note on Thursday, December 17th. The Goldman Sachs Group began coverage on Waters in a research note on Wednesday, December 2nd. They issued a “neutral” rating and a $230.00 price objective on the stock. Finally, Citigroup lifted their price objective on Waters from $250.00 to $300.00 in a research note on Wednesday, February 3rd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Waters presently has a consensus rating of “Hold” and an average target price of $220.83.
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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