Generali Asset Management SPA SGR Lowers Stock Position in Waters Corporation $WAT

Key Points

• Generali Asset Management cut its stake in Waters Corporation by 61.8%, bringing its total holdings to 3,895 shares valued at $1.36 million.
• In contrast, OVERSEA CHINESE BANKING Corp increased its position by 676.8% in the first quarter, amassing 705,733 shares valued at approximately $260 million.
• Analysts currently rate Waters stock as "Moderate Buy", with a consensus target price of $376.80 and significant variations in target prices among different firms.

Generali Asset Management SPA SGR cut its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 61.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,895 shares of the medical instruments supplier's stock after selling 6,314 shares during the period. Generali Asset Management SPA SGR's holdings in Waters were worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in Waters by 676.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 705,733 shares of the medical instruments supplier's stock valued at $260,112,000 after buying an additional 614,877 shares during the last quarter. Alliancebernstein L.P. grew its position in Waters by 15.7% in the 1st quarter. Alliancebernstein L.P. now owns 3,070,671 shares of the medical instruments supplier's stock valued at $1,131,757,000 after buying an additional 416,669 shares during the last quarter. Wellington Management Group LLP grew its position in Waters by 93.3% in the 1st quarter. Wellington Management Group LLP now owns 572,823 shares of the medical instruments supplier's stock valued at $211,125,000 after buying an additional 276,433 shares during the last quarter. Nuveen LLC purchased a new position in Waters in the 1st quarter valued at $94,028,000. Finally, Vanguard Group Inc. grew its position in Waters by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock valued at $2,680,334,000 after buying an additional 173,584 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Waters in a research report on Wednesday, October 8th. UBS Group restated a "neutral" rating on shares of Waters in a research report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of Waters from $300.00 to $325.00 and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Redburn Partners set a $390.00 target price on shares of Waters in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $385.00 target price on shares of Waters and gave the stock a "buy" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $376.80.

Waters Trading Up 0.2%

NYSE:WAT opened at $335.58 on Friday. The company has a market capitalization of $19.97 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.12 and a beta of 1.04. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. 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 $305.36 and a 200-day simple moving average of $323.15.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. The business had revenue of $608.55 million during the quarter. Waters had a return on equity of 38.60% and a net margin of 21.71%. On average, equities research analysts expect that Waters Corporation will post 12.86 earnings per share 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.

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