Panagora Asset Management Inc. Raises Position in Waters Corporation $WAT

Key Points

• Panagora Asset Management Inc. increased its stake in Waters Corporation by 2,368.1% in Q1, acquiring 26,949 additional shares for a total of 28,087 shares valued at $10,352,000.
• Institutional investors now hold 94.01% of Waters' stock, with various firms including Olde Wealth Management and Zions Bancorporation recently buying new positions.
• Waters Corporation reported Q2 earnings of $2.95 per share, exceeding expectations, with revenues of $771.33 million, marking an 8.8% year-over-year increase.

Panagora Asset Management Inc. lifted its position in shares of Waters Corporation (NYSE:WAT - Free Report) by 2,368.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,087 shares of the medical instruments supplier's stock after purchasing an additional 26,949 shares during the quarter. Panagora Asset Management Inc.'s holdings in Waters were worth $10,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Lederer & Associates Investment Counsel CA raised its stake 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 valued at $1,163,000 after buying an additional 30 shares during the last quarter. FourThought Financial Partners LLC raised its stake in Waters by 5.1% during the first quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock valued at $243,000 after buying an additional 32 shares during the last quarter. Benjamin Edwards Inc. raised 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 valued at $276,000 after buying an additional 34 shares during the last quarter. Lido Advisors LLC raised its stake in Waters by 2.2% during the fourth quarter. Lido Advisors LLC now owns 1,734 shares of the medical instruments supplier's stock valued at $643,000 after buying an additional 38 shares during the last quarter. Finally, MainStreet Investment Advisors LLC raised its stake in Waters by 1.2% during the fourth quarter. MainStreet Investment Advisors LLC now owns 3,381 shares of the medical instruments supplier's stock valued at $1,254,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Price Performance

Shares of NYSE WAT traded up $10.00 during mid-day trading on Thursday, reaching $300.06. The company's stock had a trading volume of 661,671 shares, compared to its average volume of 613,344. The firm has a market capitalization of $17.86 billion, a PE ratio of 27.06, a P/E/G ratio of 2.81 and a beta of 1.07. 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 stock has a fifty day moving average of $306.82 and a two-hundred day moving average of $337.05. Waters Corporation has a 52 week low of $275.05 and a 52 week high of $423.56.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, beating 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 company had revenue of $771.33 million during the quarter, compared to analyst estimates of $745.96 million. During the same period in the prior year, the company earned $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. As a group, sell-side analysts anticipate that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. 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 Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Wall Street Zen cut Waters from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Scotiabank reiterated a "sector outperform" rating and set a $465.00 price objective on shares of Waters in a research report on Friday, July 11th. Finally, Wells Fargo & Company reduced their price objective on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, 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.