Mitsubishi UFJ Asset Management Co. Ltd. Has $38.75 Million Holdings in Waters Corporation (NYSE:WAT)

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Waters Corporation by 9.6%, bringing its total to approximately 105,145 shares worth $38.75 million as of the latest SEC filing.
• Waters Corporation reported earnings of $2.95 EPS for the last quarter, exceeding analysts' expectations of $2.93, and demonstrated a 21.71% net margin with revenues up by 8.8% year-over-year.
• The stock currently has an average rating of "Hold" from analysts, with a consensus price target of approximately $378.73.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Waters Corporation (NYSE:WAT - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 105,145 shares of the medical instruments supplier's stock after acquiring an additional 9,216 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Waters worth $38,753,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WAT. Vanguard Group Inc. boosted its holdings in Waters by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock worth $2,680,334,000 after acquiring an additional 173,584 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Waters by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,066,482 shares of the medical instruments supplier's stock worth $761,643,000 after purchasing an additional 123,215 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Waters by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 889,306 shares of the medical instruments supplier's stock worth $329,911,000 after buying an additional 3,713 shares during the last quarter. Principal Financial Group Inc. boosted its position in Waters by 1.3% in the first quarter. Principal Financial Group Inc. now owns 738,056 shares of the medical instruments supplier's stock worth $272,026,000 after purchasing an additional 9,522 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Waters by 15.8% in the fourth quarter. Northern Trust Corp now owns 724,067 shares of the medical instruments supplier's stock valued at $268,614,000 after acquiring an additional 99,030 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company's stock.

Waters Stock Performance

Shares of NYSE WAT opened at $280.96 on Friday. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 2.62 and a beta of 1.04. The company has a current ratio of 1.75, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Waters Corporation has a 1-year low of $275.05 and a 1-year high of $423.56. The stock's 50-day moving average is $325.40 and its 200 day moving average is $350.40.

Waters (NYSE:WAT - Get Free Report) last issued its earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.02. The company had revenue of $771.33 million for the quarter, compared to analysts' expectations of $745.96 million. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.63 EPS. On average, sell-side analysts anticipate that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WAT shares. UBS Group reaffirmed a "neutral" rating on shares of Waters in a research report on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of 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 target on shares of Waters and gave the company a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Bank of America increased their price objective on Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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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