Federated Hermes Inc. Raises Stock Position in Waters Corporation (NYSE:WAT)

Key Points

• Federated Hermes Inc. increased its holdings in Waters Corporation by 475.2% in the first quarter, owning a total of 1,553 shares worth approximately $572,000.
• Waters Corporation reported $2.95 earnings per share, exceeding analysts' expectations, with revenues of $771.33 million during the last quarter, representing an 8.8% year-over-year increase.
• Institutional investors hold 94.01% of Waters stock, with a consensus rating of "Hold" and a target price of $378.73 from investment analysts.

Federated Hermes Inc. raised its position in Waters Corporation (NYSE:WAT - Free Report) by 475.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,553 shares of the medical instruments supplier's stock after acquiring an additional 1,283 shares during the quarter. Federated Hermes Inc.'s holdings in Waters were worth $572,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its position in shares of Waters by 23.4% during the first quarter. LPL Financial LLC now owns 25,133 shares of the medical instruments supplier's stock valued at $9,263,000 after buying an additional 4,769 shares during the period. one8zero8 LLC increased its position in shares of Waters by 2.6% during the first quarter. one8zero8 LLC now owns 4,257 shares of the medical instruments supplier's stock valued at $1,569,000 after buying an additional 107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Waters by 5.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,396 shares of the medical instruments supplier's stock valued at $12,309,000 after buying an additional 1,747 shares during the period. Empirical Finance LLC grew its position in shares of Waters by 3.3% in the 1st quarter. Empirical Finance LLC now owns 2,076 shares of the medical instruments supplier's stock worth $765,000 after buying an additional 67 shares during the period. Finally, FourThought Financial Partners LLC increased its stake in shares of Waters by 5.1% in the 1st quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock worth $243,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WAT shares. Scotiabank restated a "sector outperform" rating and issued a $465.00 price objective on shares of Waters in a report on Friday, July 11th. Jefferies Financial Group set a $385.00 price target on shares of Waters and gave the company a "buy" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Waters and gave the company a "hold" rating in a research report on Tuesday, August 5th. Robert W. Baird lowered their price objective on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating on shares of Waters in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $378.73.

Waters Price Performance

Shares of NYSE WAT traded down $1.48 during midday trading on Monday, reaching $279.72. The stock had a trading volume of 548,006 shares, compared to its average volume of 617,091. The stock has a 50-day moving average of $325.40 and a 200-day moving average of $349.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.22 and a current ratio of 1.75. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. Waters Corporation has a 12-month low of $275.05 and a 12-month high of $423.56.

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

Waters 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.