Park Place Capital Corp Sells 103 Shares of Waters Co. (NYSE:WAT)

Park Place Capital Corp decreased its position in shares of Waters Co. (NYSE:WAT) by 53.1% during the first quarter, HoldingsChannel reports. The fund owned 91 shares of the medical instruments supplier’s stock after selling 103 shares during the quarter. Park Place Capital Corp’s holdings in Waters were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WAT. Indiana Trust & Investment Management CO bought a new position in shares of Waters in the first quarter worth about $25,000. Riverview Trust Co bought a new position in shares of Waters in the first quarter worth about $28,000. Exchange Traded Concepts LLC bought a new position in shares of Waters in the fourth quarter worth about $35,000. VisionPoint Advisory Group LLC grew its holdings in shares of Waters by 300.0% in the third quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 108 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Waters in the fourth quarter worth about $39,000. 94.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Richard H. Fearon acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the acquisition, the director now directly owns 1,653 shares in the company, valued at approximately $550,283.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares in the company, valued at approximately $5,321,894.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard H. Fearon purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the acquisition, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

Waters Stock Performance

WAT stock opened at $284.49 on Wednesday. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 4.62 and a beta of 0.95. The firm has a 50-day simple moving average of $315.69 and a two-hundred day simple moving average of $323.60. Waters Co. has a one year low of $231.90 and a one year high of $367.21. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, beating the consensus estimate of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The business had revenue of $636.80 million during the quarter, compared to analyst estimates of $635.57 million. During the same period in the prior year, the firm posted $2.49 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts forecast that Waters Co. will post 11.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI cut their price target on shares of Waters from $320.00 to $300.00 and set an “in-line” rating on the stock in a report on Tuesday. Barclays lowered their price objective on shares of Waters from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. TD Cowen upped their price objective on shares of Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird lowered their price objective on shares of Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group initiated coverage on shares of Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective for the company. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $301.20.

Waters Company Profile

Waters Corporation 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.