Waters Corporation $WAT Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D sold 1,766 shares of Waters Corporation, decreasing its position by 8.3% and bringing its total holdings to 19,565 shares valued at approximately $7.2 million.
• Waters Corporation reported earnings of $2.95 EPS for the most recent quarter, exceeding expectations, with revenue also surpassing estimates at $771.33 million.
• Market analysts have varied ratings on Waters stock, with a consensus rating of "Hold" and a price target range between $315 and $385 from different analysts.

State of New Jersey Common Pension Fund D reduced its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,565 shares of the medical instruments supplier's stock after selling 1,766 shares during the period. State of New Jersey Common Pension Fund D's holdings in Waters were worth $7,211,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WAT. GAMMA Investing LLC increased its position in Waters by 50,228.3% during the 1st quarter. GAMMA Investing LLC now owns 662,320 shares of the medical instruments supplier's stock worth $244,111,000 after purchasing an additional 661,004 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Waters by 676.8% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 705,733 shares of the medical instruments supplier's stock valued at $260,112,000 after purchasing an additional 614,877 shares during the period. Millennium Management LLC boosted its stake in shares of Waters by 3,349.7% in the fourth quarter. Millennium Management LLC now owns 304,404 shares of the medical instruments supplier's stock valued at $112,928,000 after purchasing an additional 295,580 shares during the period. Nuveen LLC purchased a new position in shares of Waters in the first quarter valued at $94,028,000. Finally, Vanguard Group Inc. boosted its stake in shares of Waters by 2.4% in the first quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock valued at $2,680,334,000 after purchasing an additional 173,584 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WAT shares. Jefferies Financial Group set a $385.00 target price on shares of Waters and gave the company a "buy" rating in a research note on Monday, August 4th. Wells Fargo & Company decreased their price target on shares of Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 5th. Bank of America raised their price target on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird decreased their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Waters presently has a consensus rating of "Hold" and an average price target of $378.73.

Waters Stock Performance

Waters stock traded up $11.49 during mid-day trading on Friday, reaching $301.93. The company's stock had a trading volume of 500,262 shares, compared to its average volume of 841,943. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.71 and a beta of 1.04. The business has a 50 day moving average price of $314.26 and a 200-day moving average price of $342.56. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. 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 released its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.02. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm had revenue of $771.33 million during the quarter, compared to the consensus estimate of $745.96 million. During the same quarter in the previous year, the company posted $2.63 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. Waters has set its Q3 2025 guidance at 3.150-3.250 EPS. FY 2025 guidance at 12.950-13.050 EPS. Sell-side analysts predict that Waters Corporation will post 12.86 EPS for the current fiscal year.

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.