Pinnbrook Capital Management LP Buys New Holdings in Waters Corporation $WAT

Key Points

• Pinnbrook Capital Management initiated a position in Waters Corporation, purchasing 5,360 shares valued at approximately $2.01 million. Institutional investors collectively own 94.01% of the company.
• Analysts maintain a generally positive outlook, with Waters receiving a consensus “Moderate Buy” rating and an average price target of $420.35.
• Waters exceeded quarterly expectations, reporting $3.05 in EPS versus $3.01 expected and $1.65 billion in revenue versus $1.62 billion projected. The stock opened at $412.37, near its 52-week high of $421.74.

Pinnbrook Capital Management LP purchased a new position in shares of Waters Corporation (NYSE:WAT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,360 shares of the medical instruments supplier's stock, valued at approximately $2,010,000.

A number of other institutional investors have also recently bought and sold shares of the business. Westpac Banking Corp raised its stake in Waters by 14.4% in the second quarter. Westpac Banking Corp now owns 2,133 shares of the medical instruments supplier's stock valued at $800,000 after buying an additional 269 shares during the period. Callan Family Office LLC increased its holdings in shares of Waters by 1.5% during the 2nd quarter. Callan Family Office LLC now owns 2,151 shares of the medical instruments supplier's stock worth $807,000 after acquiring an additional 32 shares during the last quarter. Heartland Advisors Inc. increased its holdings in shares of Waters by 96.3% during the 2nd quarter. Heartland Advisors Inc. now owns 24,463 shares of the medical instruments supplier's stock worth $9,175,000 after acquiring an additional 12,002 shares during the last quarter. Advisors Capital Management LLC bought a new stake in Waters in the 2nd quarter valued at $253,000. Finally, Trillium Asset Management LLC lifted its holdings in Waters by 7.8% during the 2nd quarter. Trillium Asset Management LLC now owns 12,391 shares of the medical instruments supplier's stock valued at $4,647,000 after purchasing an additional 899 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WAT shares. Sanford C. Bernstein assumed coverage on shares of Waters in a research report on Friday, June 26th. They set an "outperform" rating and a $435.00 price objective for the company. Robert W. Baird set a $387.00 price objective on shares of Waters in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Waters from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Barclays lifted their target price on shares of Waters from $425.00 to $460.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Finally, HSBC upped their price target on shares of Waters from $415.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $420.35.

Waters Stock Up 1.9%

NYSE WAT opened at $412.37 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.29 and a debt-to-equity ratio of 0.32. The company has a market cap of $40.52 billion, a price-to-earnings ratio of 102.84, a PEG ratio of 2.39 and a beta of 1.19. The company has a 50 day moving average of $381.79 and a 200-day moving average of $347.24. Waters Corporation has a 1-year low of $282.77 and a 1-year high of $421.74.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.01 by $0.04. Waters had a return on equity of 11.27% and a net margin of 3.58%.The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. The firm's quarterly revenue was up 113.3% compared to the same quarter last year. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. On average, equities research analysts expect that Waters Corporation will post 14.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher A. Kuebler sold 3,626 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the sale, the director directly owned 17,808 shares of the company's stock, valued at approximately $7,086,515.52. This represents a 16.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

Waters Profile

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.

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