Avity Investment Management Inc. Sells 8,625 Shares of Waters Corporation $WAT

Key Points

• Avity Investment Management cut its Waters stake by 75.4% in the second quarter, selling 8,625 shares and retaining 2,816 shares valued at approximately $1.06 million.
• Waters exceeded quarterly expectations with adjusted earnings of $3.05 per share and revenue of $1.65 billion, while maintaining full-year 2026 earnings guidance of $14.45–$14.65 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average price target of $418.10, although the stock’s roughly 101 P/E ratio indicates a premium valuation.

Avity Investment Management Inc. reduced its stake in Waters Corporation (NYSE:WAT - Free Report) by 75.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,816 shares of the medical instruments supplier's stock after selling 8,625 shares during the period. Avity Investment Management Inc.'s holdings in Waters were worth $1,056,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Rockland Trust Co. purchased a new stake in shares of Waters in the second quarter valued at approximately $228,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Waters by 49.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 182 shares of the medical instruments supplier's stock valued at $68,000 after purchasing an additional 60 shares in the last quarter. Czech National Bank lifted its holdings in shares of Waters by 4.6% in the 2nd quarter. Czech National Bank now owns 27,947 shares of the medical instruments supplier's stock worth $10,481,000 after buying an additional 1,236 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Waters by 19.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 130,109 shares of the medical instruments supplier's stock worth $48,796,000 after buying an additional 20,891 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Waters by 58.6% in the second quarter. GAMMA Investing LLC now owns 4,618 shares of the medical instruments supplier's stock valued at $1,732,000 after acquiring an additional 1,707 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported second-quarter adjusted earnings of $3.05 per share, exceeding the $3.01 consensus estimate, while revenue reached $1.65 billion versus expectations of $1.62 billion. Management issued third-quarter earnings guidance of $3.95–$4.05 per share and maintained full-year guidance of $14.45–$14.65 per share. Waters Corporation 2026 Q2 Results Earnings Call Presentation
• Positive Sentiment: Analyst sentiment remains favorable following the results. Barclays raised its price target to $460 and kept an “overweight” rating, while Morgan Stanley set a $430 target. Waters has a consensus “Moderate Buy” rating and an average price target of $418.10. Waters analyst ratings and price targets
• Positive Sentiment: Recent institutional activity included new positions from several investment firms, and institutions collectively own approximately 94% of Waters’ outstanding shares, signaling substantial professional-investor support. Waters insider and institutional activity
• Neutral Sentiment: The stock is trading close to its 52-week high and well above its 50-day and 200-day moving averages. Its price-to-earnings ratio of about 101 suggests investors are already pricing in significant future growth.
• Negative Sentiment: Director Christopher Kuebler sold 3,626 shares for approximately $1.44 million, reducing his direct ownership by 16.92%. The transaction does not necessarily indicate a change in the company’s outlook, but it may create modest sentiment pressure. Waters director stock sale

Waters Trading Up 1.8%

Shares of NYSE:WAT opened at $406.94 on Friday. The business's 50-day moving average is $373.23 and its 200 day moving average is $345.56. Waters Corporation has a 1 year low of $275.05 and a 1 year high of $414.15. The firm has a market capitalization of $39.96 billion, a P/E ratio of 101.48, a P/E/G ratio of 2.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.77 and a quick ratio of 1.13.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.04. Waters had a return on equity of 11.27% and a net margin of 3.58%.The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $2.95 earnings per share. The company's quarterly revenue was up 113.3% on a year-over-year basis. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. On average, research analysts predict that Waters Corporation will post 14.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on WAT shares. Wolfe Research started coverage on shares of Waters in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $425.00 target price on the stock. Wells Fargo & Company upped their target price on Waters from $370.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday. Guggenheim reiterated a "buy" rating and issued a $440.00 price target on shares of Waters in a report on Wednesday, July 8th. Stifel Nicolaus set a $420.00 price objective on Waters in a research report on Wednesday. Finally, Barclays lifted their target price on Waters from $425.00 to $460.00 and gave the company an "overweight" rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $418.10.

Insiders Place Their Bets

In other Waters news, Director Christopher A. Kuebler sold 3,626 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the transaction, the director owned 17,808 shares in the company, valued at approximately $7,086,515.52. This represents a 16.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company's stock.

Waters Company Profile

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.

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