Contravisory Investment Management Lowers stake in Waters Corporation (WAT)

Waters Corporation (WAT) : Contravisory Investment Management reduced its stake in Waters Corporation by 4.36% during the most recent quarter end. The investment management company now holds a total of 41,587 shares of Waters Corporation which is valued at $6,607,758 after selling 1,898 shares in Waters Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Waters Corporation makes up approximately 2.17% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co boosted its stake in WAT in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 9,913 shares of Waters Corporation which is valued at $1,576,167. Waters Corporation makes up approx 0.21% of First Mercantile Trust Co’s portfolio.Eqis Capital Management boosted its stake in WAT in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 2,813 shares of Waters Corporation which is valued at $445,214. Waters Corporation makes up approx 0.03% of Eqis Capital Management’s portfolio.Washington Trust Bank boosted its stake in WAT in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 212 shares of Waters Corporation which is valued at $33,553. Waters Corporation makes up approx 0.01% of Washington Trust Bank’s portfolio.

Waters Corporation closed down -2.06 points or -1.30% at $156.83 with 6,80,377 shares getting traded on Tuesday. Post opening the session at $158.21, the shares hit an intraday low of $155.92 and an intraday high of $158.21 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Waters Corporation reported $1.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.45. The company had revenue of $537.00 million for the quarter, compared to analysts expectations of $523.18 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Many Wall Street Analysts have commented on Waters Corporation. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 157 from a previous price target of $130 .Company shares were Reiterated by Mizuho on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 145 from a previous price target of $130 .

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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