CI Investments Inc. Trims Stake in Waters Corporation $WAT

Key Points

• CI Investments Inc. cut its stake in Waters by 48.4% in Q3, leaving it with 4,009 shares valued at about $1.20 million.
• Waters slightly beat Q4 expectations with EPS $4.53 (vs. $4.50) and revenue of $932.36M, up 6.9% year-over-year, and set FY2026 guidance of EPS 14.30–14.50.
• Analysts hold a consensus rating of "Moderate Buy" with a $393.84 average price target; the stock trades near $316 with a 52-week range of $275–$414 and a $31.04B market cap.

CI Investments Inc. lessened its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 48.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,009 shares of the medical instruments supplier's stock after selling 3,764 shares during the quarter. CI Investments Inc.'s holdings in Waters were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WAT. Root Financial Partners LLC bought a new stake in Waters during the third quarter valued at about $26,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Waters during the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. increased its holdings in Waters by 115.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 112 shares of the medical instruments supplier's stock worth $34,000 after acquiring an additional 60 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Waters during the 2nd quarter worth approximately $53,000. Finally, Versant Capital Management Inc raised its stake in Waters by 510.3% during the 3rd quarter. Versant Capital Management Inc now owns 177 shares of the medical instruments supplier's stock worth $53,000 after acquiring an additional 148 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WAT has been the subject of several recent analyst reports. Citigroup assumed coverage on shares of Waters in a report on Tuesday, February 10th. They issued a "buy" rating and a $425.00 target price for the company. Morgan Stanley dropped their price objective on Waters from $423.00 to $350.00 and set an "equal weight" rating for the company in a research note on Sunday, February 22nd. Wall Street Zen downgraded Waters from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Guggenheim reaffirmed a "buy" rating and set a $440.00 price objective on shares of Waters in a report on Tuesday, February 10th. Finally, HSBC initiated coverage on shares of Waters in a report on Tuesday, January 27th. They issued a "buy" rating and a $460.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $393.84.

Waters Trading Down 0.8%

WAT opened at $316.39 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.73 and a debt-to-equity ratio of 0.37. The stock's fifty day moving average is $363.12 and its two-hundred day moving average is $350.80. The company has a market capitalization of $31.04 billion, a P/E ratio of 29.38, a PEG ratio of 2.20 and a beta of 1.20. Waters Corporation has a 52 week low of $275.05 and a 52 week high of $414.15.

Waters (NYSE:WAT - Get Free Report) last announced its earnings results on Monday, February 9th. The medical instruments supplier reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.03. Waters had a return on equity of 34.79% and a net margin of 20.30%.The business had revenue of $932.36 million for the quarter, compared to analysts' expectations of $928.17 million. During the same quarter last year, the firm earned $4.10 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Waters has set its FY 2026 guidance at 14.300-14.500 EPS and its Q1 2026 guidance at 2.250-2.350 EPS. Analysts forecast that Waters Corporation will post 12.86 earnings per share for the current year.

Waters Company Profile

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.

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