XTX Topco Ltd Acquires Shares of 2,805 Waters Corporation (NYSE:WAT)

Key Points

• XTX Topco Ltd has acquired a new stake in Waters Corporation, purchasing 2,805 shares valued at around $1,034,000 during the first quarter.
• Institutional investors hold a significant majority of Waters' stock, with 94.01% of the company's shares owned by this group.
• Equity analysts have mixed opinions on Waters' stock, with a consensus "Hold" rating and a target price of $382.40, reflecting varying assessments from firms like Wells Fargo and Bank of America.

XTX Topco Ltd purchased a new stake in Waters Corporation (NYSE:WAT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,805 shares of the medical instruments supplier's stock, valued at approximately $1,034,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd boosted its holdings in Waters by 42.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 540 shares of the medical instruments supplier's stock valued at $200,000 after purchasing an additional 160 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Waters in the first quarter worth about $1,268,000. GSA Capital Partners LLP raised its position in shares of Waters by 297.4% in the first quarter. GSA Capital Partners LLP now owns 3,000 shares of the medical instruments supplier's stock worth $1,106,000 after acquiring an additional 2,245 shares during the period. Federated Hermes Inc. raised its position in shares of Waters by 475.2% in the first quarter. Federated Hermes Inc. now owns 1,553 shares of the medical instruments supplier's stock worth $572,000 after acquiring an additional 1,283 shares during the period. Finally, LPL Financial LLC raised its position in shares of Waters by 23.4% in the first quarter. LPL Financial LLC now owns 25,133 shares of the medical instruments supplier's stock worth $9,263,000 after acquiring an additional 4,769 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WAT. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Wells Fargo & Company reduced 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 report on Tuesday. Deutsche Bank Aktiengesellschaft set a $315.00 price target on shares of Waters and gave the stock a "hold" rating in a research report on Tuesday. Finally, Robert W. Baird reduced their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. 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.com, Waters has an average rating of "Hold" and a consensus price target of $378.73.

Waters Price Performance

WAT stock traded down $0.46 during trading on Thursday, reaching $277.26. 387,632 shares of the company were exchanged, compared to its average volume of 613,936. The company has a market cap of $16.50 billion, a P/E ratio of 25.05, a PEG ratio of 2.75 and a beta of 1.04. Waters Corporation has a 52-week low of $276.00 and a 52-week high of $423.56. The stock's 50 day moving average price is $328.29 and its 200 day moving average price is $352.59. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.75.

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 (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.02. Waters had a net margin of 21.71% and a return on equity of 38.60%. The company had revenue of $771.33 million for the quarter, compared to the consensus estimate of $745.96 million. During the same quarter in the prior year, the firm earned $2.63 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts predict that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Waters Company 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.