Assenagon Asset Management S.A. Acquires 18,325 Shares of Waters Co. (NYSE:WAT)

Posted by on Jul 1st, 2023

Assenagon Asset Management S.A. raised its holdings in shares of Waters Co. (NYSE:WAT – Free Report) by 84.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,031 shares of the medical instruments supplier’s stock after purchasing an additional 18,325 shares during the period. Assenagon Asset Management S.A. owned 0.07% of Waters worth $12,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WAT. Private Trust Co. NA increased its stake in shares of Waters by 192.3% during the fourth quarter. Private Trust Co. NA now owns 76 shares of the medical instruments supplier’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Ronald Blue Trust Inc. increased its position in shares of Waters by 76.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 106 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 46 shares in the last quarter. VitalStone Financial LLC bought a new stake in shares of Waters during the fourth quarter valued at approximately $30,000. CI Investments Inc. increased its position in shares of Waters by 75.5% during the third quarter. CI Investments Inc. now owns 165 shares of the medical instruments supplier’s stock valued at $44,000 after acquiring an additional 71 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Waters during the fourth quarter valued at approximately $49,000. Institutional investors own 90.09% of the company’s stock.

Analysts Set New Price Targets

WAT has been the subject of several analyst reports. Robert W. Baird reduced their price target on shares of Waters from $345.00 to $288.00 in a research report on Wednesday, May 10th. StockNews.com downgraded shares of Waters from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company reduced their price target on shares of Waters from $345.00 to $305.00 in a research report on Wednesday, May 10th. Barclays cut their target price on shares of Waters from $325.00 to $290.00 in a research report on Tuesday. Finally, Stifel Nicolaus lowered their price target on Waters from $345.00 to $315.00 in a report on Wednesday, May 10th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Waters presently has a consensus rating of “Hold” and a consensus price target of $332.09.

Waters Stock Up 1.8 %

Waters stock opened at $266.54 on Friday. The stock has a fifty day moving average of $270.28 and a 200 day moving average of $305.25. Waters Co. has a one year low of $248.18 and a one year high of $369.00. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.59 and a current ratio of 2.21. The stock has a market cap of $15.73 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.86.

Waters (NYSE:WAT – Free Report) last released its quarterly earnings results on Tuesday, May 9th. The medical instruments supplier reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.11). Waters had a net margin of 23.22% and a return on equity of 149.31%. The company had revenue of $684.67 million for the quarter, compared to the consensus estimate of $697.86 million. During the same period in the prior year, the firm posted $2.80 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Waters Co. will post 12.58 EPS for the current year.

About Waters

(Free Report)

Waters Corporation, a specialty measurement company, 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.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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