Garrison Financial Corp Continues to Hold Position in Waters Corporation (NYSE:WAT)
Garrison Financial Corp held its stake in shares of Waters Corporation (NYSE:WAT) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,744 shares of the medical instruments supplier’s stock at the end of the second quarter. Garrison Financial Corp’s holdings in Waters Corporation were worth $321,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in WAT. BlackRock Inc. boosted its stake in shares of Waters Corporation by 2,810.7% in the first quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock valued at $836,212,000 after buying an additional 5,165,917 shares during the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of Waters Corporation during the first quarter valued at $81,480,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Waters Corporation by 3,735.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 373,950 shares of the medical instruments supplier’s stock valued at $58,452,000 after buying an additional 364,200 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of Waters Corporation by 18.2% in the first quarter. Janus Capital Management LLC now owns 2,309,646 shares of the medical instruments supplier’s stock valued at $361,021,000 after buying an additional 356,395 shares during the last quarter. Finally, Fundsmith LLP boosted its stake in shares of Waters Corporation by 11.3% in the first quarter. Fundsmith LLP now owns 3,432,535 shares of the medical instruments supplier’s stock valued at $536,540,000 after buying an additional 349,178 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
Waters Corporation (NYSE WAT) opened at 177.03 on Friday. The company’s 50 day moving average is $180.41 and its 200 day moving average is $167.57. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 26.68 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company had revenue of $558.30 million during the quarter, compared to the consensus estimate of $553.22 million. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Waters Corporation will post $7.38 EPS for the current year.
Waters Corporation declared that its Board of Directors has initiated a share repurchase program on Thursday, May 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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WAT has been the subject of several research reports. Janney Montgomery Scott raised shares of Waters Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a research report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $183.00 price target (up previously from $166.00) on shares of Waters Corporation in a research report on Saturday, April 29th. Cowen and Company upped their price target on shares of Waters Corporation from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price target on shares of Waters Corporation in a research report on Friday, July 14th. Finally, Zacks Investment Research raised shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $186.00.
In related news, SVP Rohit Khanna sold 10,000 shares of Waters Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $176.46, for a total value of $1,764,600.00. Following the completion of the transaction, the senior vice president now owns 14,077 shares in the company, valued at $2,484,027.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. Insiders sold 98,580 shares of company stock valued at $17,730,275 in the last quarter. 5.07% of the stock is owned by insiders.
About Waters Corporation
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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