Jupiter Asset Management Ltd. Makes New Investment in Waters Corporation (NYSE:WAT)

Key Points

• Jupiter Asset Management Ltd. has acquired a new stake in Waters Corporation valued at approximately $25.98 million, representing about 0.12% ownership of the company as of its last SEC filing.
• Waters reported earnings per share (EPS) of $2.25 for the last quarter, exceeding analysts' expectations of $2.22, with revenue of $661.71 million, a 3.9% year-over-year increase.
• As of now, 94.01% of Waters Corporation's stock is owned by institutional investors, with recent modifications to holdings by various firms, indicating strong institutional interest.

Jupiter Asset Management Ltd. purchased a new stake in Waters Corporation (NYSE:WAT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,491 shares of the medical instruments supplier's stock, valued at approximately $25,981,000. Jupiter Asset Management Ltd. owned 0.12% of Waters at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Olde Wealth Management LLC acquired a new position in Waters in the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in Waters in the 4th quarter valued at $28,000. IFP Advisors Inc raised its stake in Waters by 118.9% in the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Whipplewood Advisors LLC raised its stake in Waters by 5,200.0% in the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 104 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Waters in the 4th quarter valued at $67,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on WAT. Barclays reduced their price objective on Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Scotiabank restated a "sector outperform" rating and issued a $465.00 target price on shares of Waters in a report on Friday, July 11th. UBS Group restated a "neutral" rating on shares of Waters in a report on Tuesday, July 15th. Wells Fargo & Company dropped their target price on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Bank of America raised their price objective on Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Waters has an average rating of "Hold" and a consensus target price of $378.73.

Waters Stock Up 0.1%

Shares of WAT traded up $0.28 during midday trading on Thursday, hitting $278.00. The company had a trading volume of 43,134 shares, compared to its average volume of 611,800. The company's 50-day simple moving average is $328.29 and its 200-day simple moving average is $352.59. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.75. The firm has a market capitalization of $16.55 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.75 and a beta of 1.04. Waters Corporation has a 1 year low of $276.00 and a 1 year 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, beating the consensus estimate of $2.93 by $0.02. Waters had a return on equity of 38.60% and a net margin of 21.71%. The business had revenue of $771.33 million during the quarter, compared to analysts' expectations of $745.96 million. During the same quarter last year, the business posted $2.63 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Waters Corporation will post 12.86 EPS for the current year.

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.