S Bank Fund Management Ltd Makes New $763,000 Investment in Waters Corporation (NYSE:WAT)

Key Points

• S Bank Fund Management Ltd made a new investment of $763,000 in Waters Corporation, acquiring 2,071 shares of the medical instruments supplier's stock in the first quarter.
• Waters Corporation reported better-than-expected earnings with $2.95 EPS for the last quarter, surpassing the consensus estimate of $2.93, and a revenue increase of 8.8% from the previous year.
• The average target price for Waters stock is currently $378.73, with a mix of ratings, including ten analysts rating it as a hold and five as a buy.

S Bank Fund Management Ltd bought a new position in Waters Corporation (NYSE:WAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,071 shares of the medical instruments supplier's stock, valued at approximately $763,000.

Several other large investors have also added to or reduced their stakes in the stock. Olde Wealth Management LLC bought a new position in 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 boosted 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 in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Waters by 5,200.0% in the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 104 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Waters in the 1st quarter worth about $75,000. Institutional investors own 94.01% of the company's stock.

Waters Stock Up 2.1%

Shares of NYSE:WAT opened at $285.23 on Wednesday. Waters Corporation has a 52-week low of $275.05 and a 52-week high of $423.56. The firm has a market capitalization of $16.98 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.61 and a beta of 1.04. The stock has a 50 day moving average price of $322.84 and a 200-day moving average price of $348.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.22 and a current ratio of 1.75.

Waters (NYSE:WAT - Get Free Report) last announced its earnings results 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 firm had revenue of $771.33 million during the quarter, compared to analyst estimates of $745.96 million. During the same quarter in the prior year, the company earned $2.63 EPS. The business's revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Scotiabank reiterated a "sector outperform" rating and issued a $465.00 price objective on shares of Waters in a report on Friday, July 11th. Wells Fargo & Company dropped their target price on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. UBS Group restated a "neutral" rating on shares of Waters in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Waters and gave the company a "hold" rating in a report on Tuesday, August 5th. Finally, Robert W. Baird dropped their target price on Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $378.73.

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.

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