Fulcrum Asset Management LLP Buys 11,976 Shares of Waters Corporation $WAT

Key Points

• Fulcrum Asset Management opened a position in Waters, buying 11,976 shares in the third quarter, valued at approximately $5.3 million.
• Institutional investors own 94.01% of Waters shares, with several other firms also reporting new or increased holdings.
• Waters beat quarterly earnings and revenue estimates, reporting $4.10 EPS and $1.77 billion in revenue; analysts’ consensus rating is Moderate Buy, with a $475.48 price target.

Fulcrum Asset Management LLP acquired a new position in Waters Corporation (NYSE:WAT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,976 shares of the medical instruments supplier's stock, valued at approximately $5,308,000.

Several other institutional investors have also added to or reduced their stakes in WAT. Westside Investment Management Inc. purchased a new stake in shares of Waters during the 3rd quarter valued at approximately $27,000. Next Level Wealth Planning LLC bought a new position in Waters in the 3rd quarter worth about $29,000. PenderFund Capital Management Ltd. bought a new position in Waters in the 2nd quarter worth about $28,000. First Bancorp Inc ME purchased a new position in Waters during the 2nd quarter valued at about $30,000. Finally, Caitlin John LLC grew its holdings in Waters by 43.9% during the 2nd quarter. Caitlin John LLC now owns 82 shares of the medical instruments supplier's stock valued at $31,000 after buying an additional 25 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on WAT. JPMorgan Chase & Co. increased their target price on shares of Waters from $435.00 to $470.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. Wells Fargo & Company raised their price target on Waters from $370.00 to $400.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Robert W. Baird lifted their price target on Waters from $456.00 to $495.00 and gave the company an "outperform" rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their price objective on shares of Waters from $475.00 to $525.00 and gave the company an "outperform" rating in a research report on Wednesday, November 4th. Finally, Barclays lifted their price target on Waters from $500.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $475.48.

Waters Price Performance

Shares of NYSE WAT opened at $477.12 on Tuesday. The company has a 50 day simple moving average of $435.97 and a two-hundred day simple moving average of $372.64. Waters Corporation has a fifty-two week low of $282.77 and a fifty-two week high of $482.28. The company has a market capitalization of $46.88 billion, a price-to-earnings ratio of 204.77, a P/E/G ratio of 2.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.29 and a current ratio of 0.66.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.10. Waters had a net margin of 1.75% and a return on equity of 9.91%. The business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.75 billion. During the same quarter in the prior year, the business earned $3.40 EPS. The business's revenue for the quarter was up 120.9% compared to the same quarter last year. Analysts expect that Waters Corporation will post 14.65 EPS for the current fiscal year.

Waters Profile

Waters Corporation develops and supplies analytical instruments, software, and consumables used to identify, measure, and characterize chemical and biological materials. Its products include liquid chromatography and mass spectrometry systems, which help customers analyze complex samples.

The company serves pharmaceutical and biotechnology businesses, academic and government laboratories, and customers in fields such as food, environmental testing, and materials science. Waters operates internationally, with customers and operations across multiple regions.

Founded in 1958 by James L.

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