Waters Corporation $WAT Stock: Smith Group Asset Management LLC Cuts Position

Key Points

• Smith Group Asset Management cut its Waters position by 37.7% in the third quarter, selling 31,375 shares and retaining 51,748 shares valued at approximately $22.7 million.
• Institutional ownership remains high at 94.01%, while other major investors—including Wellington Management, BlackRock and Pilgrim Global Advisors—also adjusted or initiated positions in Waters.
• Waters reported quarterly EPS of $3.05, exceeding estimates, and revenue of $1.65 billion. Analysts maintain a “Moderate Buy” consensus, with an average price target of $457.50, although the stock was trading near $476.95.

Smith Group Asset Management LLC decreased its holdings in Waters Corporation (NYSE:WAT - Free Report) by 37.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,748 shares of the medical instruments supplier's stock after selling 31,375 shares during the period. Smith Group Asset Management LLC owned about 0.05% of Waters worth $22,738,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WAT. Pilgrim Global Advisors LLC purchased a new stake in shares of Waters during the second quarter valued at $466,131,171,000. BlackRock Inc. bought a new stake in Waters in the 2nd quarter worth about $3,182,191,000. Jupiter Topco LLC bought a new stake in Waters in the 2nd quarter worth about $623,921,000. Wellington Management Group LLP raised its position in Waters by 69.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,373,150 shares of the medical instruments supplier's stock worth $514,986,000 after buying an additional 561,824 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Waters in the 2nd quarter worth about $188,725,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Insider Transactions at Waters

In other Waters news, Director Christopher Kuebler sold 3,626 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the completion of the sale, the director directly owned 17,808 shares in the company, valued at $7,086,515.52. The trade was a 16.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company's stock.

Waters Stock Performance

WAT stock opened at $476.95 on Thursday. The company has a market cap of $46.86 billion, a P/E ratio of 118.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.15. Waters Corporation has a 1 year low of $282.77 and a 1 year high of $482.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.29. The stock's fifty day moving average price is $428.02 and its 200-day moving average price is $369.80.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $3.05 EPS for the quarter, topping the consensus estimate of $3.01 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.62 billion. Waters had a return on equity of 11.27% and a net margin of 3.58%. Waters's revenue was up 113.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. On average, equities analysts forecast that Waters Corporation will post 14.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on WAT. TD Cowen upped their target price on shares of Waters from $475.00 to $515.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Morgan Stanley set a $430.00 price target on shares of Waters in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Waters from $400.00 to $440.00 in a research note on Thursday, October 15th. Wall Street Zen raised shares of Waters from a "hold" rating to a "buy" rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of Waters from $465.00 to $515.00 and gave the company a "buy" rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $457.50.

Waters Profile

Waters Corporation NYSE: WAT develops and manufactures analytical technologies used to measure, identify and characterize chemical and biological substances. Its customers include pharmaceutical and biotechnology companies, industrial manufacturers, academic and government laboratories, and organizations involved in food, environmental and clinical testing.

The company's product portfolio includes high-performance liquid chromatography and ultra-performance liquid chromatography systems, mass spectrometers, chromatography columns and consumables, and laboratory software for data management and analysis.

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