Aveo Capital Partners LLC Makes New Investment in Waters Corporation (NYSE:WAT)

Key Points

• Aveo Capital Partners LLC has invested approximately $656,000 to purchase 1,900 shares of Waters Corporation (NYSE:WAT) in the first quarter, signaling institutional interest in the medical instruments supplier.
• Analysts have varied opinions on Waters' stock, with a consensus rating of "Hold" and a price target averaging $378.73, indicating mixed expectations for the company's performance.
• Waters Corporation reported quarterly earnings of $2.95 EPS, exceeding forecasts, with revenues increasing 8.8% year-over-year to $771.33 million, reflecting strong operational performance.

Aveo Capital Partners LLC bought a new stake in Waters Corporation (NYSE:WAT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,900 shares of the medical instruments supplier's stock, valued at approximately $656,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Waters by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock worth $2,680,334,000 after purchasing an additional 173,584 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Waters by 6.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,066,482 shares of the medical instruments supplier's stock worth $761,643,000 after purchasing an additional 123,215 shares during the period. Invesco Ltd. grew its holdings in shares of Waters by 14.0% during the 1st quarter. Invesco Ltd. now owns 1,112,128 shares of the medical instruments supplier's stock worth $409,897,000 after purchasing an additional 136,396 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Waters by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 889,306 shares of the medical instruments supplier's stock worth $329,911,000 after purchasing an additional 3,713 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Waters by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 738,056 shares of the medical instruments supplier's stock worth $272,026,000 after acquiring an additional 9,522 shares during the period. Institutional investors and hedge funds own 94.01% of the company's stock.

Waters Stock Performance

Shares of WAT traded up $11.12 on Wednesday, reaching $296.64. 623,109 shares of the stock traded hands, compared to its average volume of 617,035. The stock's 50-day moving average price is $322.84 and its 200-day moving average price is $348.61. Waters Corporation has a 12 month low of $275.05 and a 12 month high of $423.56. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.02. Waters had a return on equity of 38.60% and a net margin of 21.71%. The firm had revenue of $771.33 million for the quarter, compared to analysts' expectations of $745.96 million. During the same period in the prior year, the business posted $2.63 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a "neutral" rating on shares of Waters in a research report on Tuesday, July 15th. Sanford C. Bernstein set a $400.00 target price on Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Waters and gave the company a "hold" rating in a research report on Tuesday, August 5th. Robert W. Baird cut their target price on Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company cut their target price on Waters from $330.00 to $315.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 5th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $378.73.

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.