Progressive Investment Management Corp Lowers stake in Waters Corporation (WAT)

Waters Corporation (WAT) : Progressive Investment Management Corp reduced its stake in Waters Corporation by 2.92% during the most recent quarter end. The investment management company now holds a total of 21,970 shares of Waters Corporation which is valued at $3 Million after selling 661 shares in Waters Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Waters Corporation makes up approximately 3.03% of Progressive Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Assetmark Inc reduced its stake in WAT by selling 341 shares or 41.33% in the most recent quarter. The Hedge Fund company now holds 484 shares of WAT which is valued at $65,224.Gsa Capital Partners Llp reduced its stake in WAT by selling 4,740 shares or 53.93% in the most recent quarter. The Hedge Fund company now holds 4,049 shares of WAT which is valued at $545,643. Waters Corporation makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio. Smith Asset Management Group Lp sold out all of its stake in WAT during the most recent quarter. The investment firm sold 133,940 shares of WAT which is valued $17.8 Million.Bank Of Stockton boosted its stake in WAT in the latest quarter, The investment management firm added 168 additional shares and now holds a total of 3,278 shares of Waters Corporation which is valued at $426,664. Waters Corporation makes up approx 0.23% of Bank Of Stockton’s portfolio.

Waters Corporation opened for trading at $137.68 and hit $138.3175 on the upside on Wednesday, eventually ending the session at $137.61, with a gain of 0.04% or 0.05 points. The heightened volatility saw the trading volume jump to 2,80,663 shares. Company has a market cap of $11,138 M.

On the company’s financial health, Waters Corporation reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.24. The company had revenue of $475.30 million for the quarter, compared to analysts expectations of $471.48 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS.

Many Wall Street Analysts have commented on Waters Corporation. Company shares were Reiterated by Mizuho on Apr 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .Waters Corporation was Downgraded by BofA/Merrill to ” Neutral” on Apr 5, 2016. Barclays Initiated Waters Corporation on Mar 1, 2016 to “Equal Weight”, Price Target of the shares are set at $125.

Waters Corporation (Waters) is an analytical instrument manufacturer. The Company designs manufactures distributes and services instrument systems columns and other chemistry consumables that are integrated and used along with other analytical instruments. The Company has two segments: Waters Division and TA Division. The Waters Division’s products and services primarily consist of high performance liquid chromatography (HPLC) ultra performance liquid chromatography (UPLC and together with HPLC referred to as LC) mass spectrometry (MS) and chemistry consumable products and related services. TA Division’s products and services primarily consist of thermal analysis rheometry and calorimetry instrument systems and service sales. The Company’s products are used by pharmaceutical life science biochemical industrial nutritional safety environmental academic and governmental customers working in research and development quality assurance and other laboratory applications.

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