Neuberger Berman Group LLC Raises Position in Waters Corporation (NYSE:WAT)

Key Points

• Neuberger Berman Group LLC significantly increased its stake in Waters Corporation by 1,155.7%, resulting in ownership of 47,140 shares valued at approximately $17.37 million.
• Waters Corporation's stock has risen 3.9% and as of the latest trading, it opened at $296.64, with a market capitalization of $17.66 billion.
• In its most recent quarterly earnings report, Waters reported earnings per share of $2.95, exceeding projections and indicating an 8.8% year-over-year revenue growth.

Neuberger Berman Group LLC lifted its stake in Waters Corporation (NYSE:WAT - Free Report) by 1,155.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,140 shares of the medical instruments supplier's stock after buying an additional 43,386 shares during the period. Neuberger Berman Group LLC owned approximately 0.08% of Waters worth $17,374,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Waters by 112.9% in the fourth quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock valued at $471,000 after purchasing an additional 673 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Waters by 29.2% in the fourth quarter. Federated Hermes Inc. now owns 270 shares of the medical instruments supplier's stock valued at $100,000 after purchasing an additional 61 shares during the last quarter. Cerity Partners LLC boosted its holdings in Waters by 11.5% in the fourth quarter. Cerity Partners LLC now owns 5,962 shares of the medical instruments supplier's stock valued at $2,187,000 after purchasing an additional 613 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Waters in the fourth quarter valued at about $40,404,000. Finally, Sterling Capital Management LLC boosted its holdings in Waters by 27.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,944 shares of the medical instruments supplier's stock valued at $721,000 after purchasing an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Stock Up 3.9%

Shares of Waters stock opened at $296.64 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. The business's 50 day simple moving average is $321.70 and its 200-day simple moving average is $348.25. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.66 and a beta of 1.04. Waters Corporation has a twelve month low of $275.05 and a twelve month high of $423.56.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.02. The business had revenue of $771.33 million for the quarter, compared to analysts' expectations of $745.96 million. Waters had a return on equity of 38.60% and a net margin of 21.71%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 EPS. Equities research analysts forecast that Waters Corporation will post 12.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WAT shares. Bank of America increased 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. Wells Fargo & Company reduced their price target on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. 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 report on Wednesday, July 16th. Scotiabank reissued a "sector outperform" rating and issued a $465.00 price target on shares of Waters in a report on Friday, July 11th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Waters in a report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $378.73.

Waters Company 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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