EFG Asset Management North America Corp. Reduces Position in Waters Corporation $WAT

Key Points

• EFG Asset Management North America Corp. has reduced its stake in Waters Corporation by 36.2% during the first quarter, resulting in ownership of 3,861 shares valued at $1,422,000.
• In addition to EFG, multiple institutional investors have adjusted their stakes in Waters, with Brighton Jones LLC increasing its investment by 112.9% in the fourth quarter.
• Waters reported earnings of $2.95 per share for the last quarter, exceeding expectations and reflecting an 8.8% year-over-year revenue increase to $771.33 million.

EFG Asset Management North America Corp. decreased its position in Waters Corporation (NYSE:WAT - Free Report) by 36.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,861 shares of the medical instruments supplier's stock after selling 2,195 shares during the period. EFG Asset Management North America Corp.'s holdings in Waters were worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WAT. QRG Capital Management Inc. raised its holdings in Waters by 85.7% during the 1st quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock valued at $605,000 after acquiring an additional 758 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Waters by 4.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,986 shares of the medical instruments supplier's stock valued at $1,101,000 after acquiring an additional 130 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Waters by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock worth $1,774,000 after purchasing an additional 189 shares during the period. CX Institutional bought a new position in shares of Waters in the first quarter worth $75,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Waters by 169.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,619 shares of the medical instruments supplier's stock worth $4,283,000 after purchasing an additional 7,301 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Stock Down 2.7%

WAT traded down $8.16 on Wednesday, hitting $292.36. The company had a trading volume of 343,195 shares, compared to its average volume of 613,946. Waters Corporation has a 52-week low of $275.05 and a 52-week high of $423.56. The stock has a fifty day simple moving average of $302.86 and a 200-day simple moving average of $334.78. The firm has a market capitalization of $17.40 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.88 and a beta of 1.07. 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 the consensus estimate of $2.93 by $0.02. The company had revenue of $771.33 million during the quarter, compared to the consensus estimate of $745.96 million. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.63 earnings per share. Waters has set its Q3 2025 guidance at 3.150-3.250 EPS. FY 2025 guidance at 12.950-13.050 EPS. As a group, equities analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WAT. Wall Street Zen cut shares of Waters from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America increased their target price on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Waters and gave the company a "hold" rating in a research note on Tuesday, August 5th. Robert W. Baird cut their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Scotiabank restated a "sector outperform" rating and set a $465.00 price target on shares of Waters in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Waters has a consensus rating of "Hold" and an average price target of $378.73.

Waters Company Profile

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.