Waters Corporation (NYSE:WAT) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Waters Corporation by 23.4%, boosting its holdings to 25,133 shares valued at approximately $9.26 million.
• Institutional investors currently own 94.01% of Waters' stock, indicating strong institutional interest in the company.
• Waters reported an earnings per share (EPS) of $2.95 for the last quarter, exceeding estimates and showing a year-over-year revenue growth of 8.8%.

LPL Financial LLC increased its stake in Waters Corporation (NYSE:WAT - Free Report) by 23.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,133 shares of the medical instruments supplier's stock after acquiring an additional 4,769 shares during the quarter. LPL Financial LLC's holdings in Waters were worth $9,263,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. one8zero8 LLC grew its holdings in shares of Waters by 2.6% in the first quarter. one8zero8 LLC now owns 4,257 shares of the medical instruments supplier's stock valued at $1,569,000 after purchasing an additional 107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Waters by 5.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,396 shares of the medical instruments supplier's stock valued at $12,309,000 after purchasing an additional 1,747 shares during the period. Empirical Finance LLC grew its holdings in shares of Waters by 3.3% in the first quarter. Empirical Finance LLC now owns 2,076 shares of the medical instruments supplier's stock valued at $765,000 after purchasing an additional 67 shares during the period. FourThought Financial Partners LLC grew its holdings in shares of Waters by 5.1% in the first quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock valued at $243,000 after purchasing an additional 32 shares during the period. Finally, HB Wealth Management LLC grew its holdings in shares of Waters by 15.7% in the first quarter. HB Wealth Management LLC now owns 1,115 shares of the medical instruments supplier's stock valued at $411,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Trading Up 2.1%

NYSE:WAT traded up $5.94 on Tuesday, reaching $285.23. The stock had a trading volume of 601,981 shares, compared to its average volume of 1,187,490. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.61 and a beta of 1.04. Waters Corporation has a 12-month low of $275.05 and a 12-month high of $423.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. The firm's fifty day moving average is $322.84 and its two-hundred day moving average is $348.61.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.02. The business had revenue of $771.33 million for the quarter, compared to analyst estimates of $745.96 million. Waters had a net margin of 21.71% and a return on equity of 38.60%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. Equities analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WAT has been the topic of several analyst reports. Robert W. Baird reduced their target price on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Bank of America upped their price target on shares of Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Scotiabank reissued a "sector outperform" rating and issued a $465.00 price objective on shares of Waters in a research note on Friday, July 11th. UBS Group reaffirmed a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently 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.