Waters Co. (NYSE:WAT) Shares Sold by abrdn plc

abrdn plc decreased its stake in Waters Co. (NYSE:WAT) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,115 shares of the medical instruments supplier’s stock after selling 7,448 shares during the period. abrdn plc owned approximately 0.43% of Waters worth $94,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Waters by 70.7% during the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after buying an additional 271,804 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Waters by 34.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier’s stock worth $141,757,000 after purchasing an additional 100,811 shares during the period. JPMorgan Chase & Co. raised its position in shares of Waters by 37.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,661 shares of the medical instruments supplier’s stock worth $110,005,000 after purchasing an additional 82,865 shares during the period. Applied Finance Capital Management LLC grew its holdings in Waters by 3,627.0% in the 3rd quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier’s stock worth $24,828,000 after buying an additional 67,136 shares in the last quarter. Finally, Smith Group Asset Management LLC bought a new position in Waters in the 4th quarter worth approximately $22,188,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Price Performance

WAT stock opened at $411.53 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02. Waters Co. has a 52 week low of $279.24 and a 52 week high of $423.56. The firm’s fifty day moving average is $387.62 and its 200 day moving average is $359.42. The firm has a market cap of $24.44 billion, a P/E ratio of 39.27, a P/E/G ratio of 7.45 and a beta of 1.01.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.25. The business had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.84 EPS. Research analysts predict that Waters Co. will post 11.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded Waters from a “hold” rating to a “buy” rating and increased their target price for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. TD Cowen increased their price objective on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America increased their target price on shares of Waters from $400.00 to $430.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Scotiabank initiated coverage on shares of Waters in a research report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Waters presently has an average rating of “Hold” and a consensus price target of $384.71.

About Waters

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.