State of Michigan Retirement System Purchases 10,522 Shares of Waters Corporation $WAT

Key Points

• State of Michigan Retirement System increased its Waters Corporation stake by 65% in Q1, adding 10,522 shares and bringing its total holding to 26,719 shares worth about $7.96 million.
• Waters has seen broad institutional buying, with several large investors boosting positions and institutional ownership now standing at 94.01% of the company.
• Analysts remain cautiously positive: Waters has a Moderate Buy consensus with a $401.60 average price target, while the stock recently traded around $375.25 after a small decline.

State of Michigan Retirement System grew its position in Waters Corporation (NYSE:WAT - Free Report) by 65.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,719 shares of the medical instruments supplier's stock after buying an additional 10,522 shares during the period. State of Michigan Retirement System's holdings in Waters were worth $7,957,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WAT. Norges Bank purchased a new stake in Waters during the fourth quarter valued at approximately $265,751,000. Veritas Asset Management LLP grew its holdings in Waters by 112.3% in the fourth quarter. Veritas Asset Management LLP now owns 1,241,206 shares of the medical instruments supplier's stock worth $471,447,000 after purchasing an additional 656,436 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Waters by 509.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 671,103 shares of the medical instruments supplier's stock worth $254,906,000 after purchasing an additional 561,047 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Waters by 1,611.3% during the 4th quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier's stock valued at $220,705,000 after purchasing an additional 547,109 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Waters by 2,281.7% during the 4th quarter. Millennium Management LLC now owns 538,713 shares of the medical instruments supplier's stock valued at $204,619,000 after purchasing an additional 516,094 shares during the last quarter. Institutional investors own 94.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America boosted their target price on Waters from $370.00 to $400.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 2nd. Wells Fargo & Company raised their price target on Waters from $355.00 to $370.00 and gave the stock an "equal weight" rating in a report on Thursday, May 14th. HSBC increased their price objective on shares of Waters from $415.00 to $435.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein began coverage on shares of Waters in a research report on Friday, June 26th. They set an "outperform" rating and a $435.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Waters in a research note on Thursday, June 11th. They set a "neutral" rating and a $400.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Waters presently has a consensus rating of "Moderate Buy" and a consensus price target of $401.60.

Waters Stock Down 0.3%

Shares of WAT stock opened at $375.25 on Thursday. The stock's 50-day simple moving average is $361.26 and its 200-day simple moving average is $346.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.79. The firm has a market capitalization of $36.85 billion, a PE ratio of 47.68, a P/E/G ratio of 2.28 and a beta of 1.20. Waters Corporation has a fifty-two week low of $275.05 and a fifty-two week high of $414.15.

Waters (NYSE:WAT - Get Free Report) last released its earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.39. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.20 billion. Waters had a return on equity of 15.60% and a net margin of 11.91%.The company's revenue was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. Equities analysts expect that Waters Corporation will post 14.51 earnings per share for the current year.

Waters Company 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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