Bank of Nova Scotia Sells 3,735 Shares of Waters Corporation $WAT

Key Points

• Bank of Nova Scotia reduced its Waters stake by 27.3%, selling 3,735 shares in the second quarter and retaining 9,923 shares worth approximately $3.72 million. Institutional investors collectively own 94.01% of Waters.
• Waters exceeded quarterly expectations, reporting $3.05 in EPS versus a $3.01 estimate and $1.65 billion in revenue versus a $1.62 billion forecast. The company issued third-quarter 2026 EPS guidance of $3.95–$4.05 and full-year guidance of $14.45–$14.65.
• Shares opened at $414.41, near their 52-week high of $421.74. Analysts maintain a “Moderate Buy” consensus with an average price target of $420.35, while Director Christopher A. Kuebler separately sold 3,626 shares for approximately $1.44 million.

Bank of Nova Scotia cut its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,923 shares of the medical instruments supplier's stock after selling 3,735 shares during the period. Bank of Nova Scotia's holdings in Waters were worth $3,722,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Daiichi Life Insurance Co. Ltd. grew its stake in shares of Waters by 3.7% during the 2nd quarter. Daiichi Life Insurance Co. Ltd. now owns 2,693 shares of the medical instruments supplier's stock valued at $1,010,000 after acquiring an additional 97 shares during the period. Foyston Gordon & Payne Inc increased its holdings in Waters by 2.1% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 5,738 shares of the medical instruments supplier's stock worth $2,152,000 after acquiring an additional 117 shares in the last quarter. Pinnbrook Capital Management LP bought a new stake in Waters during the 2nd quarter worth approximately $2,010,000. Westpac Banking Corp lifted its stake in shares of Waters by 14.4% during the 2nd quarter. Westpac Banking Corp now owns 2,133 shares of the medical instruments supplier's stock valued at $800,000 after buying an additional 269 shares in the last quarter. Finally, Callan Family Office LLC boosted its holdings in Waters by 1.5% in the 2nd quarter. Callan Family Office LLC now owns 2,151 shares of the medical instruments supplier's stock worth $807,000 after buying an additional 32 shares during the period. Institutional investors own 94.01% of the company's stock.

Insider Buying and Selling at Waters

In other Waters news, Director Christopher A. Kuebler sold 3,626 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the completion of the sale, the director owned 17,808 shares in the company, valued at $7,086,515.52. This represents a 16.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company's stock.

Waters Price Performance

Shares of WAT stock opened at $414.41 on Wednesday. The stock has a 50 day moving average price of $383.92 and a 200 day moving average price of $347.45. Waters Corporation has a 52-week low of $282.77 and a 52-week high of $421.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.29 and a current ratio of 1.86. The firm has a market capitalization of $40.72 billion, a P/E ratio of 103.34, a P/E/G ratio of 2.39 and a beta of 1.19.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 EPS for the quarter, topping the consensus estimate of $3.01 by $0.04. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.62 billion. Waters had a net margin of 3.58% and a return on equity of 11.27%. The firm's revenue was up 113.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 EPS. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. As a group, sell-side analysts predict that Waters Corporation will post 14.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WAT shares. Robert W. Baird set a $387.00 price objective on Waters in a research note on Wednesday, May 6th. UBS Group boosted their price target on Waters from $330.00 to $375.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Evercore restated an "outperform" rating and issued a $420.00 price target on shares of Waters in a research note on Wednesday, August 5th. HSBC increased their price objective on shares of Waters from $415.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Waters from $380.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Waters presently has an average rating of "Moderate Buy" and a consensus target price of $420.35.

Waters 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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