Mengis Capital Management Inc. Cuts Position in Waters Corporation $WAT

Key Points

• Mengis Capital Management Inc. reduced its stake in Waters Corporation by 62.5%, now holding 2,250 shares valued at approximately $785,000.
• Waters Corporation reported a quarterly earnings per share (EPS) of $2.95, surpassing expectations, with revenue up 8.8% year-over-year at $771.33 million.
• The stock has a consensus rating of "Moderate Buy" with a price target of about $377.56, indicating growth potential as analysts remain optimistic.

Mengis Capital Management Inc. trimmed its position in Waters Corporation (NYSE:WAT - Free Report) by 62.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,250 shares of the medical instruments supplier's stock after selling 3,750 shares during the quarter. Mengis Capital Management Inc.'s holdings in Waters were worth $785,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WAT. Olde Wealth Management LLC purchased a new position in shares of Waters in the 1st quarter worth about $25,000. Zions Bancorporation National Association UT purchased a new position in shares of Waters in the 1st quarter worth about $28,000. IFP Advisors Inc raised its holdings in shares of Waters by 118.9% in the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after purchasing an additional 44 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Waters in the 1st quarter worth about $41,000. Finally, Steph & Co. acquired a new stake in shares of Waters in the second quarter valued at about $73,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Price Performance

WAT stock opened at $330.48 on Friday. 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's 50 day moving average is $299.15 and its two-hundred day moving average is $324.44. The company has a market capitalization of $19.67 billion, a PE ratio of 29.80, a P/E/G ratio of 3.05 and a beta of 1.04.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share (EPS) for the quarter, topping 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 company had revenue of $771.33 million for the quarter, compared to the consensus estimate of $745.96 million. During the same period in the previous year, the business earned $2.63 EPS. Waters's revenue for the quarter was up 8.8% compared to the same quarter last year. Waters has set its Q3 2025 guidance at 3.150-3.250 EPS. FY 2025 guidance at 12.950-13.050 EPS. Analysts predict that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WAT. Rothschild & Co Redburn began coverage on Waters in a research note on Wednesday. They issued a "buy" rating and a $390.00 target price for the company. Wells Fargo & Company lowered their target price on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Robert W. Baird lowered their target price on Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, Rothschild Redb upgraded Waters to a "strong-buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Waters currently has a consensus rating of "Moderate Buy" and a consensus price target of $377.56.

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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