LPL Financial LLC Acquires 4,769 Shares of Waters Corporation (NYSE:WAT)

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 lifted its holdings in Waters Corporation (NYSE:WAT - Free Report) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,133 shares of the medical instruments supplier's stock after purchasing an additional 4,769 shares during the quarter. LPL Financial LLC's holdings in Waters were worth $9,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lederer & Associates Investment Counsel CA raised its position in Waters by 1.0% during the first quarter. Lederer & Associates Investment Counsel CA now owns 3,155 shares of the medical instruments supplier's stock worth $1,163,000 after acquiring an additional 30 shares in the last quarter. FourThought Financial Partners LLC grew its stake 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 acquiring an additional 32 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Waters by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier's stock worth $276,000 after buying an additional 34 shares in the last quarter. Claret Asset Management Corp grew its stake in Waters by 3.6% during the fourth quarter. Claret Asset Management Corp now owns 1,103 shares of the medical instruments supplier's stock worth $409,000 after buying an additional 38 shares in the last quarter. Finally, Lido Advisors LLC lifted its holdings in shares of Waters by 2.2% in the fourth quarter. Lido Advisors LLC now owns 1,734 shares of the medical instruments supplier's stock worth $643,000 after acquiring an additional 38 shares during the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Stock Performance

Waters stock traded down $2.90 during midday trading on Thursday, reaching $293.94. The stock had a trading volume of 307,651 shares, compared to its average volume of 614,979. The firm's 50-day moving average price is $321.70 and its 200 day moving average price is $348.25. Waters Corporation has a 12 month low of $275.05 and a 12 month high of $423.56. The firm has a market capitalization of $17.50 billion, a PE ratio of 26.49, a P/E/G ratio of 2.66 and a beta of 1.04. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $745.96 million. During the same period in the prior year, the business posted $2.63 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WAT shares. Deutsche Bank Aktiengesellschaft set a $315.00 target price on shares of Waters and gave the stock a "hold" rating in a report on Tuesday, August 5th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. UBS Group reiterated a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Bank of America boosted their price target on shares of Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, 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 note on Tuesday, August 5th. Ten research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $378.73.

Waters 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.