Waters Corporation (NYSE:WAT) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Waters Corporation by 10.4%, now owning approximately 100,345 shares worth $36.88 million.
• Waters Corporation reported earnings of $2.25 per share in its latest quarterly results, exceeding analysts' expectations and representing a 3.9% year-over-year revenue increase.
• The stock currently has a consensus rating of "Hold" with a target price averaging $382.40, reflecting mixed ratings from multiple analysts.

OVERSEA CHINESE BANKING Corp Ltd grew its position in Waters Corporation (NYSE:WAT - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,345 shares of the medical instruments supplier's stock after acquiring an additional 9,489 shares during the quarter. Waters accounts for 1.0% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 23rd biggest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.17% of Waters worth $36,884,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in shares of Waters by 85.7% in the 1st quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock worth $605,000 after buying an additional 758 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Waters by 4.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,986 shares of the medical instruments supplier's stock worth $1,101,000 after buying an additional 130 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Waters by 4.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock worth $1,774,000 after buying an additional 189 shares during the period. CX Institutional purchased a new stake in shares of Waters in the 1st quarter worth $75,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Waters by 169.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,619 shares of the medical instruments supplier's stock worth $4,283,000 after buying an additional 7,301 shares during the period. Institutional investors own 94.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lowered Waters from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $420.00 to $330.00 in a research report on Tuesday, July 15th. 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 research report on Wednesday, July 16th. Sanford C. Bernstein set a $400.00 price target on Waters and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Bank of America boosted their price target on Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, Jefferies Financial Group reduced their price target on Waters from $435.00 to $385.00 and set a "buy" rating for the company in a research report on Monday. Ten equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $380.40.

Waters Price Performance

NYSE WAT traded down $4.34 during mid-day trading on Monday, hitting $285.97. The stock had a trading volume of 1,285,282 shares, compared to its average volume of 1,176,559. Waters Corporation has a 52-week low of $279.19 and a 52-week high of $423.56. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 2.87 and a beta of 1.04. The company has a 50 day simple moving average of $332.57 and a 200 day simple moving average of $354.43. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69.

Waters (NYSE:WAT - Get Free Report) last announced its 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 41.70% and a net margin of 22.02%. The firm had revenue of $771.33 million for the quarter, compared to analysts' expectations of $745.96 million. During the same quarter in the prior year, the firm earned $2.63 EPS. Waters's quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Waters Corporation will post 12.86 EPS for the current fiscal 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.