Citigroup Inc. Purchases 2,385 Shares of Waters Corporation (NYSE:WAT)

Key Points

• Citigroup Inc. increased its holdings in Waters Corporation by 3.4%, acquiring an additional 2,385 shares, bringing its total to 71,726 shares valued at approximately $26.4 million.
• Waters Corporation reported a quarterly EPS of $2.95, exceeding analyst expectations and showing an 8.8% increase in year-over-year revenue, totaling $771.33 million.
• Institutional investors own 94.01% of Waters Corporation's stock, indicating strong institutional interest in the company.

Citigroup Inc. grew its position in Waters Corporation (NYSE:WAT - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,726 shares of the medical instruments supplier's stock after acquiring an additional 2,385 shares during the quarter. Citigroup Inc. owned 0.12% of Waters worth $26,436,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WAT. Brighton Jones LLC raised its holdings in shares of Waters by 112.9% in 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 in the last quarter. Federated Hermes Inc. raised its holdings in shares of Waters by 29.2% in the 4th quarter. Federated Hermes Inc. now owns 270 shares of the medical instruments supplier's stock worth $100,000 after buying an additional 61 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Waters by 11.5% in the 4th quarter. Cerity Partners LLC now owns 5,962 shares of the medical instruments supplier's stock worth $2,187,000 after buying an additional 613 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Waters in the 4th quarter worth approximately $40,404,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Waters by 27.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,944 shares of the medical instruments supplier's stock worth $721,000 after buying an additional 413 shares in the last quarter. Institutional investors own 94.01% of the company's stock.

Waters Stock Up 2.1%

NYSE WAT opened at $285.23 on Wednesday. The stock has a fifty day moving average of $322.84 and a 200-day moving average of $348.61. The stock has a market capitalization of $16.98 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. Waters Corporation has a 52 week low of $275.05 and a 52 week high of $423.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.22 and a current ratio of 1.75.

Waters (NYSE:WAT - Get Free Report) last released its earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, beating the consensus estimate of $2.93 by $0.02. The company had revenue of $771.33 million during the quarter, compared to analysts' expectations of $745.96 million. Waters had a return on equity of 38.60% and a net margin of 21.71%. The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $2.63 EPS. On average, equities research analysts forecast that Waters Corporation will post 12.86 EPS for the current year.

Analyst Upgrades and Downgrades

WAT has been the subject of a number of recent research reports. Sanford C. Bernstein set a $400.00 target price on Waters and gave the stock an "outperform" rating in a report on Wednesday, April 16th. UBS Group reissued a "neutral" rating on shares of Waters in a report on Tuesday, July 15th. Robert W. Baird dropped their target price on Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group set a $385.00 target price on Waters and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Scotiabank reiterated a "sector outperform" rating and issued a $465.00 price objective on shares of Waters in a research report on Friday, July 11th. Ten investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.

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