Assenagon Asset Management S.A. Grows Holdings in Waters Co. (NYSE:WAT)

Assenagon Asset Management S.A. lifted its stake in Waters Co. (NYSE:WAT - Free Report) by 48.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,726 shares of the medical instruments supplier's stock after purchasing an additional 13,290 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Waters worth $15,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Waters by 112.9% during the 4th quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock worth $471,000 after buying an additional 673 shares during the last quarter. Empowered Funds LLC boosted its stake in Waters by 3.0% during the 4th quarter. Empowered Funds LLC now owns 966 shares of the medical instruments supplier's stock worth $358,000 after purchasing an additional 28 shares during the last quarter. Savant Capital LLC boosted its stake in Waters by 3.8% during the 4th quarter. Savant Capital LLC now owns 1,704 shares of the medical instruments supplier's stock worth $632,000 after purchasing an additional 63 shares during the last quarter. Avestar Capital LLC acquired a new stake in Waters during the 4th quarter worth $260,000. Finally, Figure 8 Investment Strategies LLC acquired a new stake in Waters during the 4th quarter worth $2,578,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on WAT. Wall Street Zen cut shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. JPMorgan Chase & Co. lifted their price target on Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Barclays lowered their price target on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird increased their price target on shares of Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, UBS Group reduced their price target on shares of Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $390.19.

Waters Price Performance

Shares of Waters stock traded down $7.69 on Friday, hitting $341.88. The company's stock had a trading volume of 347,169 shares, compared to its average volume of 474,462. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56. The firm has a fifty day moving average price of $342.72 and a 200-day moving average price of $367.88. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $20.34 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. The firm had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. Waters had a net margin of 21.56% and a return on equity of 46.31%. The company's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, equities research analysts expect that Waters Co. will post 12.86 earnings per share for the current fiscal year.

About Waters

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.