Tokio Marine Asset Management Co. Ltd. Grows Stake in Waters Corporation (NYSE:WAT)

Key Points

• Tokio Marine Asset Management Co. Ltd. has increased its stake in Waters Corporation by 130.2% in the first quarter, now owning 14,641 shares valued at approximately $5.4 million.
• Several institutional investors have recently modified their stakes, with hedge funds owning 94.01% of Waters Corporation's stock.
• Waters Corporation reported an earnings per share of $2.95 for the last quarter, exceeding analysts' expectations and showing an 8.8% year-over-year revenue growth.

Tokio Marine Asset Management Co. Ltd. lifted its stake in Waters Corporation (NYSE:WAT - Free Report) by 130.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,641 shares of the medical instruments supplier's stock after buying an additional 8,282 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Waters were worth $5,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Olde Wealth Management LLC acquired a new stake in Waters in the first quarter valued at approximately $25,000. Zions Bancorporation National Association UT purchased a new position in shares of Waters in the first quarter valued at $28,000. IFP Advisors Inc grew its holdings in Waters by 118.9% during the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock worth $39,000 after buying an additional 104 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Waters in the first quarter worth about $41,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. Scotiabank reiterated a "sector outperform" rating and set a $465.00 price objective on shares of Waters in a research note on Friday, July 11th. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the stock an "outperform" rating in a report on Wednesday, April 16th. 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 reduced their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $378.73.

Waters Stock Up 2.1%

Shares of Waters stock opened at $285.23 on Wednesday. The stock has a market capitalization of $16.98 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.61 and a beta of 1.04. Waters Corporation has a twelve month low of $275.05 and a twelve month high of $423.56. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. The business's 50 day simple moving average is $322.84 and its 200-day simple moving average is $348.61.

Waters (NYSE:WAT - Get Free Report) last issued 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 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 the consensus estimate of $745.96 million. During the same period in the prior year, the business earned $2.63 EPS. The firm's revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Waters Corporation will post 12.86 earnings per share for the current 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.

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