BOCHK Asset Management Ltd Buys 4,000 Shares of Waters Corporation $WAT

Key Points

• BOCHK Asset Management bought 4,000 Waters shares worth approximately $1.76 million during the third quarter. Institutional investors collectively own 94.01% of the company.
• Waters exceeded quarterly expectations, reporting $3.05 in earnings per share and $1.65 billion in revenue, with revenue up 113.3% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $457.50; TD Cowen recently raised its target to $515.

BOCHK Asset Management Ltd purchased a new stake in shares of Waters Corporation (NYSE:WAT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the medical instruments supplier's stock, valued at approximately $1,758,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pilgrim Global Advisors LLC purchased a new position in Waters during the 2nd quarter valued at about $466,131,171,000. BlackRock Inc. purchased a new stake in shares of Waters in the second quarter worth approximately $3,182,191,000. Jupiter Topco LLC acquired a new stake in shares of Waters during the second quarter worth approximately $623,921,000. Wellington Management Group LLP boosted its holdings in shares of Waters by 69.2% during the second quarter. Wellington Management Group LLP now owns 1,373,150 shares of the medical instruments supplier's stock worth $514,986,000 after purchasing an additional 561,824 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Waters during the second quarter valued at approximately $188,725,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Insider Activity at Waters

In related news, Director Christopher Kuebler sold 3,626 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $397.94, for a total value of $1,442,930.44. Following the sale, the director directly owned 17,808 shares of the company's stock, valued at approximately $7,086,515.52. The trade was a 16.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Waters Stock Performance

Shares of Waters stock opened at $449.12 on Tuesday. The firm has a fifty day moving average of $431.15 and a two-hundred day moving average of $370.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.29 and a current ratio of 1.86. The stock has a market capitalization of $44.13 billion, a price-to-earnings ratio of 112.00, a PEG ratio of 2.77 and a beta of 1.15. Waters Corporation has a 52 week low of $282.77 and a 52 week high of $482.28.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $3.01 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.62 billion. Waters had a return on equity of 11.27% and a net margin of 3.58%. Waters's revenue was up 113.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 EPS. As a group, equities research analysts predict that Waters Corporation will post 14.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $420.00 price objective on shares of Waters in a research note on Wednesday, August 5th. TD Cowen boosted their price target on Waters from $475.00 to $515.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Jefferies Financial Group increased their price objective on shares of Waters from $450.00 to $455.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Evercore increased their price objective on Waters from $410.00 to $480.00 in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company lifted their price objective on Waters from $370.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $457.50.

About Waters

Waters Corporation NYSE: WAT develops and manufactures analytical technologies used to measure, identify and characterize chemical and biological substances. Its customers include pharmaceutical and biotechnology companies, industrial manufacturers, academic and government laboratories, and organizations involved in food, environmental and clinical testing.

The company's product portfolio includes high-performance liquid chromatography and ultra-performance liquid chromatography systems, mass spectrometers, chromatography columns and consumables, and laboratory software for data management and analysis.

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