Handelsbanken Fonder AB Increases Position in Waters Co. (NYSE:WAT)

Posted by on Jul 21st, 2023

Handelsbanken Fonder AB boosted its holdings in shares of Waters Co. (NYSE:WAT – Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,101 shares of the medical instruments supplier’s stock after purchasing an additional 560 shares during the quarter. Handelsbanken Fonder AB’s holdings in Waters were worth $3,437,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WAT. Wellington Management Group LLP grew its holdings in shares of Waters by 79.6% during the first quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock worth $467,011,000 after buying an additional 666,851 shares in the last quarter. Norges Bank purchased a new position in shares of Waters during the 4th quarter worth $215,981,000. Morgan Stanley boosted its position in shares of Waters by 106.7% during the 4th quarter. Morgan Stanley now owns 802,584 shares of the medical instruments supplier’s stock valued at $274,950,000 after acquiring an additional 414,334 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Waters by 1,891.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 173,030 shares of the medical instruments supplier’s stock valued at $59,277,000 after purchasing an additional 164,340 shares during the period. Finally, Robeco Schweiz AG increased its position in Waters by 301.4% during the fourth quarter. Robeco Schweiz AG now owns 135,513 shares of the medical instruments supplier’s stock worth $46,424,000 after purchasing an additional 101,757 shares during the last quarter. 90.09% of the stock is owned by institutional investors and hedge funds.

Waters Price Performance

Waters stock opened at $279.80 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.21 and a debt-to-equity ratio of 2.38. Waters Co. has a 52-week low of $248.18 and a 52-week high of $369.00. The firm has a market cap of $16.52 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.85 and a beta of 0.86. The company’s 50 day moving average is $263.59 and its two-hundred day moving average is $298.01.

Waters (NYSE:WAT – Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $697.86 million. During the same quarter in the previous year, the business posted $2.80 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, research analysts expect that Waters Co. will post 12.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on WAT shares. Robert W. Baird dropped their price target on shares of Waters from $345.00 to $288.00 in a research note on Wednesday, May 10th. Wells Fargo & Company cut their target price on Waters from $345.00 to $305.00 in a research note on Wednesday, May 10th. StockNews.com lowered Waters from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Stifel Nicolaus cut their price objective on Waters from $345.00 to $315.00 in a research report on Wednesday, May 10th. Finally, Barclays decreased their target price on shares of Waters from $325.00 to $290.00 in a research report on Tuesday, June 27th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $332.09.

Waters Profile

(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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