Waters (NYSE:WAT) Releases FY 2026 Earnings Guidance

Waters (NYSE:WAT) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 14.400-14.600 for the period, compared to the consensus estimate of 14.380. The company issued revenue guidance of $6.4 billion-$6.5 billion, compared to the consensus revenue estimate of $6.4 billion. Waters also updated its Q2 2026 guidance to 2.950-3.050 EPS.

Wall Street Analyst Weigh In

A number of research firms recently commented on WAT. Barclays began coverage on shares of Waters in a report on Tuesday, February 10th. They set an “overweight” rating and a $400.00 price target for the company. Bank of America lowered their price target on shares of Waters from $410.00 to $350.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. Wall Street Zen lowered shares of Waters from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Guggenheim restated a “buy” rating and issued a $440.00 price objective on shares of Waters in a report on Tuesday, February 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Waters from $415.00 to $355.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $387.53.

Waters Stock Up 12.7%

Shares of Waters stock traded up $38.27 during trading on Tuesday, hitting $340.15. The company’s stock had a trading volume of 1,253,098 shares, compared to its average volume of 1,047,702. Waters has a 52 week low of $275.05 and a 52 week high of $414.15. The company has a fifty day simple moving average of $309.75 and a two-hundred day simple moving average of $351.98. The company has a market capitalization of $33.39 billion, a PE ratio of 31.58, a P/E/G ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.73.

Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, May 5th. The medical instruments supplier reported $2.70 EPS for the quarter, beating the consensus estimate of $2.31 by $0.39. Waters had a net margin of 20.30% and a return on equity of 34.79%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $2.25 EPS. Waters’s revenue for the quarter was up 91.4% on a year-over-year basis. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. Equities research analysts predict that Waters will post 14.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Wei Jiang purchased 500 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were purchased at an average price of $289.46 per share, with a total value of $144,730.00. Following the acquisition, the director directly owned 3,441 shares in the company, valued at $996,031.86. The trade was a 17.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Key Waters News

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Q1 beat and raised full-year targets — Waters reported adjusted EPS of $2.70 (vs. ~$2.31 consensus) and revenue of $1.267B (above estimates); management raised FY2026 revenue and EPS guidance, which underpins the bullish move. Quiver Quant: Q1 beat & guidance lift
• Positive Sentiment: Acquired biosciences & diagnostics business is contributing now — the BD businesses added roughly $520M of revenue in the quarter and helped drive the revenue beat and upward guidance. Reuters: Biosciences unit drives growth
• Positive Sentiment: Strong organic performance — organic revenue grew ~13% (11% constant currency), led by instrument and chemistry sales, indicating healthy underlying demand in pharma/drug?development markets. PR Newswire: Q1 results & organic growth
• Positive Sentiment: Analyst and insider support — William Blair reiterated a Buy and there were recent insider purchases, which can reassure investors on the outlook and management confidence. TipRanks: Analyst reiteration
• Neutral Sentiment: Near-term guide vs. street — Waters gave Q2 EPS guidance of $2.95–$3.05 and revenue around $1.6B; that sets expectations for the next quarter but the EPS range sits roughly in line with or slightly below some street estimates, so Q2 execution will be watched closely. MarketBeat: Guidance details
• Neutral Sentiment: Valuation/technicals — the stock trades at a premium P/E (~31x) and is below its 200?day moving average, so some investors may weigh valuation and technical resistance even after today’s move.
• Negative Sentiment: Large institutional rebalancing noted — some major managers trimmed positions in prior quarters (e.g., UBS AM reduced a large stake), a factor that could contribute to volatility despite the beat. Quiver Quant: Institutional moves & holdings

Institutional Trading of Waters

A number of institutional investors have recently made changes to their positions in WAT. Veritas Asset Management LLP boosted its holdings in shares of Waters by 112.3% during the 4th quarter. Veritas Asset Management LLP now owns 1,241,206 shares of the medical instruments supplier’s stock valued at $471,447,000 after acquiring an additional 656,436 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Waters by 509.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 671,103 shares of the medical instruments supplier’s stock worth $254,906,000 after buying an additional 561,047 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Waters by 1,611.3% in the fourth quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier’s stock worth $220,705,000 after buying an additional 547,109 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Waters by 32.3% in the third quarter. Invesco Ltd. now owns 1,472,419 shares of the medical instruments supplier’s stock worth $441,446,000 after buying an additional 359,596 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Waters in the fourth quarter worth approximately $70,316,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

About Waters

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.