LGT Group Foundation Has $5.97 Million Holdings in Waters Corporation (NYSE:WAT)

Key Points

• LGT Group Foundation reduced its holdings in Waters Corporation by 7.6%, now owning 16,196 shares valued at approximately $5.97 million as of the latest SEC filing.
• Waters Corporation's quarterly earnings report showed an EPS of $2.95, beating estimates and revealing an 8.8% year-over-year revenue increase to $771.33 million.
• Currently, 94.01% of Waters' stock is owned by institutional investors and hedge funds, indicating strong institutional confidence in the company.

LGT Group Foundation trimmed its position in Waters Corporation (NYSE:WAT - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,196 shares of the medical instruments supplier's stock after selling 1,338 shares during the quarter. LGT Group Foundation's holdings in Waters were worth $5,969,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. raised its stake in shares of Waters by 85.7% in the first quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock valued at $605,000 after purchasing an additional 758 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Waters by 4.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,986 shares of the medical instruments supplier's stock valued at $1,101,000 after purchasing an additional 130 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Waters by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock valued at $1,774,000 after purchasing an additional 189 shares in the last quarter. CX Institutional bought a new stake in Waters in the first quarter valued at $75,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Waters by 169.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,619 shares of the medical instruments supplier's stock valued at $4,283,000 after acquiring an additional 7,301 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Trading Up 2.1%

NYSE WAT opened at $285.23 on Wednesday. The business's 50-day moving average price is $322.84 and its two-hundred day moving average price is $348.61. Waters Corporation has a 12 month low of $275.05 and a 12 month high of $423.56. The firm has a market capitalization of $16.98 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. 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. Waters had a return on equity of 38.60% and a net margin of 21.71%. The firm had revenue of $771.33 million for the quarter, compared to analyst estimates of $745.96 million. During the same quarter in the previous year, the company posted $2.63 EPS. The business's revenue was up 8.8% on a year-over-year basis. On average, analysts expect that Waters Corporation will post 12.86 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Sanford C. Bernstein set a $400.00 target price on Waters and gave the stock an "outperform" rating in a report on Wednesday, April 16th. Bank of America raised their price target on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Jefferies Financial Group set a $385.00 target price on Waters and gave the company a "buy" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Waters and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $378.73.

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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