Waters Co. (WAT) Director Joann A. Reed Sells 2,090 Shares

Waters Co. (NYSE:WAT) Director Joann A. Reed sold 2,090 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $195.77, for a total value of $409,159.30. Following the completion of the sale, the director now directly owns 17,932 shares in the company, valued at $3,510,547.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Waters traded up $0.37, hitting $194.52, during mid-day trading on Thursday, Marketbeat Ratings reports. The company had a trading volume of 13,595 shares, compared to its average volume of 619,474. The company has a current ratio of 6.44, a quick ratio of 5.87 and a debt-to-equity ratio of 0.59. Waters Co. has a 12 month low of $171.32 and a 12 month high of $220.20. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

Waters (NYSE:WAT) last released its earnings results on Tuesday, April 24th. The medical instruments supplier reported $1.59 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $530.70 million for the quarter, compared to the consensus estimate of $534.17 million. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities research analysts predict that Waters Co. will post 8.21 EPS for the current year.

Waters declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to purchase up to 18.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several equities research analysts recently weighed in on the company. ValuEngine cut Waters from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Zacks Investment Research cut Waters from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. TheStreet raised Waters from a “c+” rating to a “b” rating in a research note on Tuesday, April 24th. Barclays reduced their price target on Waters from $208.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 25th. Finally, Morgan Stanley reduced their price target on Waters from $218.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 25th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Waters currently has a consensus rating of “Hold” and an average price target of $207.31.

Several large investors have recently made changes to their positions in WAT. Bank of Montreal Can lifted its holdings in shares of Waters by 17.6% during the fourth quarter. Bank of Montreal Can now owns 81,050 shares of the medical instruments supplier’s stock valued at $15,657,000 after purchasing an additional 12,109 shares in the last quarter. National Pension Service lifted its holdings in shares of Waters by 0.3% during the fourth quarter. National Pension Service now owns 84,896 shares of the medical instruments supplier’s stock valued at $16,401,000 after purchasing an additional 275 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Waters by 1.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 275,641 shares of the medical instruments supplier’s stock valued at $53,252,000 after purchasing an additional 4,336 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Waters during the fourth quarter valued at $524,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Waters by 45.2% during the fourth quarter. State of Alaska Department of Revenue now owns 19,604 shares of the medical instruments supplier’s stock valued at $3,785,000 after purchasing an additional 6,100 shares in the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

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.

Insider Buying and Selling by Quarter for Waters (NYSE:WAT)

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