Waters Corporation $WAT Stock: Candriam S.C.A. Boosts Stake

Key Points

• Candriam S.C.A. increased its Waters stake by 21.2% in the third quarter, to 31,187 shares valued at about $13.8 million. Institutional investors collectively own 94.01% of the company.
• Analysts’ average price target is $475.48, with a “Moderate Buy” consensus; Citigroup raised its target to $536, while ratings include 18 Buy or Strong Buy and six Hold recommendations.
• Waters reported quarterly EPS of $4.10, beating the $4.00 consensus, and revenue of $1.77 billion versus estimates of $1.75 billion. Revenue rose 120.9% year over year.

Candriam S.C.A. lifted its holdings in Waters Corporation (NYSE:WAT - Free Report) by 21.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,187 shares of the medical instruments supplier's stock after purchasing an additional 5,462 shares during the quarter. Candriam S.C.A.'s holdings in Waters were worth $13,753,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ethic Inc. raised its stake in Waters by 7.2% during the third quarter. Ethic Inc. now owns 11,375 shares of the medical instruments supplier's stock valued at $4,998,000 after purchasing an additional 767 shares in the last quarter. Calamos Wealth Management LLC bought a new position in Waters during the third quarter valued at $8,715,000. Calamos Advisors LLC lifted its position in Waters by 548.9% during the third quarter. Calamos Advisors LLC now owns 51,353 shares of the medical instruments supplier's stock valued at $22,564,000 after purchasing an additional 43,439 shares during the last quarter. Alta Advisers Ltd purchased a new position in shares of Waters in the 3rd quarter worth $309,000. Finally, Westside Investment Management Inc. purchased a new position in shares of Waters in the 3rd quarter worth $27,000. Institutional investors own 94.01% of the company's stock.

Analysts Set New Price Targets

WAT has been the topic of a number of research reports. HSBC boosted their target price on shares of Waters from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price target on Waters from $400.00 to $440.00 in a research report on Thursday, October 15th. Guggenheim boosted their price objective on Waters from $440.00 to $490.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Citigroup upped their price objective on Waters from $470.00 to $536.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th. Finally, Evercore raised their price objective on Waters from $410.00 to $480.00 in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $475.48.

Waters Price Performance

Waters stock opened at $477.12 on Tuesday. The firm has a 50-day moving average price of $435.97 and a 200-day moving average price of $372.64. The firm has a market capitalization of $46.88 billion, a PE ratio of 204.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.32. Waters Corporation has a 12-month low of $282.77 and a 12-month high of $482.28.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.00 by $0.10. Waters had a net margin of 1.75% and a return on equity of 9.91%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $3.40 EPS. The firm's revenue was up 120.9% compared to the same quarter last year. As a group, equities research analysts forecast that Waters Corporation will post 14.65 EPS for the current year.

Waters Profile

Waters Corporation develops and supplies analytical instruments, software, and consumables used to identify, measure, and characterize chemical and biological materials. Its products include liquid chromatography and mass spectrometry systems, which help customers analyze complex samples.

The company serves pharmaceutical and biotechnology businesses, academic and government laboratories, and customers in fields such as food, environmental testing, and materials science. Waters operates internationally, with customers and operations across multiple regions.

Founded in 1958 by James L.

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