Fintel reports that on September 28, 2023, Bernstein initiated coverage of Waters (NYSE:WAT) with a Market Perform recommendation.
Analyst Price Forecast Suggests 12.71% Upside
As of August 31, 2023, the average one-year price target for Waters is 306.96. The forecasts range from a low of 277.75 to a high of $349.65. The average price target represents an increase of 12.71% from its latest reported closing price of 272.34.
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The projected annual revenue for Waters is 3,074MM, an increase of 2.73%. The projected annual non-GAAP EPS is 12.82.
What is the Fund Sentiment?
There are 1311 funds or institutions reporting positions in Waters. This is a decrease of 85 owner(s) or 6.09% in the last quarter. Average portfolio weight of all funds dedicated to WAT is 0.20%, a decrease of 6.49%. Total shares owned by institutions increased in the last three months by 4.91% to 61,108K shares. 
The put/call ratio of WAT is 1.38, indicating a bearish outlook.
What are Other Shareholders Doing?
Fundsmith LLP holds 3,809K shares representing 6.45% ownership of the company. In it's prior filing, the firm reported owning 3,698K shares, representing an increase of 2.92%. The firm decreased its portfolio allocation in WAT by 13.78% over the last quarter.
Bank of New York Mellon holds 3,472K shares representing 5.87% ownership of the company. In it's prior filing, the firm reported owning 3,444K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in WAT by 20.52% over the last quarter.
Massachusetts Financial Services holds 3,471K shares representing 5.87% ownership of the company. In it's prior filing, the firm reported owning 2,581K shares, representing an increase of 25.63%. The firm increased its portfolio allocation in WAT by 11.48% over the last quarter.
Alliancebernstein holds 2,018K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 1,471K shares, representing an increase of 27.14%. The firm increased its portfolio allocation in WAT by 12.61% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,852K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 1,837K shares, representing an increase of 0.77%. The firm decreased its portfolio allocation in WAT by 19.96% over the last quarter.
Waters Background Information
(This description is provided by the company.)
Waters Corporation, the world's leading specialty measurement company, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, and food sciences for more than 60 years. With more than 7,000 employees worldwide, Waters operates directly in 35 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.
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