Invesco Ltd. Grows Stake in Waters Corporation (NYSE:WAT)

Key Points

• Invesco Ltd. increased its stake in Waters Corporation by 14.0%, owning approximately 1.87% of the company, valued at $409.9 million.
• Several institutional investors are actively trading Waters shares, with 94.01% of the stock currently held by hedge funds and institutional investors.
• Waters Corporation reported a quarterly earnings per share of $2.95, exceeding analysts' expectations, and estimated to post 12.86 EPS for the current year.

Invesco Ltd. lifted its holdings in Waters Corporation (NYSE:WAT - Free Report) by 14.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,112,128 shares of the medical instruments supplier's stock after purchasing an additional 136,396 shares during the quarter. Invesco Ltd. owned about 1.87% of Waters worth $409,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. QRG Capital Management Inc. boosted its position 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 worth $605,000 after acquiring an additional 758 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position 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 worth $1,101,000 after acquiring an additional 130 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Waters by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock worth $1,774,000 after acquiring an additional 189 shares during the last quarter. CX Institutional acquired a new position in Waters during the 1st quarter worth approximately $75,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Waters by 169.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,619 shares of the medical instruments supplier's stock worth $4,283,000 after acquiring an additional 7,301 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Price Performance

Shares of WAT traded up $11.12 during midday trading on Wednesday, reaching $296.64. The stock had a trading volume of 623,109 shares, compared to its average volume of 1,087,783. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. Waters Corporation has a 12-month low of $275.05 and a 12-month high of $423.56. The company's 50-day moving average is $321.70 and its 200 day moving average is $348.25. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on WAT shares. Robert W. Baird reduced their price target on Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Scotiabank reiterated a "sector outperform" rating and set a $465.00 price objective on shares of Waters in a research note on Friday, July 11th. Wells Fargo & Company dropped their price objective on Waters from $330.00 to $315.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on Waters and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Finally, Sanford C. Bernstein set a $400.00 price objective on Waters and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.