There has been some selling insider activity on Waters Corporation (NYSE:WAT) recently. Rohit Khanna, SVP, Applied Technology disclosed the sale of 23,000 shares. The shares were sold on June 9th for an average price of $186.90. The SVP, Applied Technology now owns $761,991 of the stock per the Form 4 SEC filing. Eugene G. Cassis, Sr VP sold $788,718 worth of shares at an average price of $184.28 on Mon the 5th. Cassis now owns $3,823,257 of stock per an SEC filing yesterday.
SVP, Applied Technology Rohit Khanna sold 10,000 shares at an average price of $182.90 on Fri the 2nd. That brings Khanna’s holdings to $745,683 as reported to the SEC.
Waters Corporation, launched on December 6, 1991, is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. The Company 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. In addition, the Company designs, manufactures, sells and services thermal analysis, rheometry and calorimetry instruments through its TA product line. The Company is also a developer and supplier of software-based products that interface with the Business’s instruments, as well as other suppliers’ instruments, and are purchased by customers as part of the instrument system..
Here are a few additional firms who have increased or decreased their stake in (WAT). As of the end of the quarter Clearbridge Investments, LLC had acquired a total of 555 shares growing its holdings by 12.2%. The value of the investment in (WAT) went from $609,000 to $795,000 increasing 30.5% quarter to quarter. As of quarter end Mawer Investment Management Ltd. had bought 177,661 shares growing its position 77.1%. The value of the investment in WAT increased from $30,976,000 to $63,798,000 a change of $32,822,000 since the last quarter.
As of the end of the quarter Mackenzie Financial Corp had acquired a total of 2,825 shares growing its stake by 1.2%. The value in dollars went from $32,975,000 to $38,795,000 a change of 17.6% for the reporting period. Hm Payson & Co bolstered its stake by buying 35 shares an increase of 0.7% from 12/31/2016 to 03/31/2017. Hm Payson & Co now controls 4,958 shares with a value of $775,000. The value of the position overall is up by 17.1%.
Leerink Swann starting coverage on WAT with an initial rating of “Outperform”. July 27 investment analysts at Citigroup maintained a stock rating of “Equalweight” but raised the price expectation to $157.00 from $117.00.
On July 27 Barclays held the stock rating at “Equalweight” and raised the price expectation from $125.00 to $157.00. On April 5 the company was downgraded from “Buy” to “Neutral” by Bank of America.
Equity analyst Barclays initiated coverage by announcing an initial rating of “Equal-weight” and a price target of $125.00. On January 27 Deutsche Bank kept the company rating at “Hold” and lowered the price target to $130.00 from $137.00.
In the market the company is trading unchanged from yesterday’s close of $184.99. Company shares last traded at $184.99 slightly over the 50 day moving average which is $175.56 and which is marginally higher than the 200 day moving average of $154.23. The 50 day moving average went up by +5.37% and the 200 day average went up by +19.95%.
Waters Corporation’s P/E ratio is 28.13 and market capitalization is 14.81B. In the latest earnings report the EPS was $6.58 and is estimated to be $7.32 for the current year with 80,037,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $1.73 with next year’s EPS projected to be $7.99.