First Eagle Investment Management LLC Has $500.72 Million Stock Position in Waters Corporation $WAT

Key Points

• First Eagle Investment Management reduced its Waters stake by 15.2% in the second quarter, selling 240,079 shares. It still held 1.34 million shares worth approximately $500.7 million, while institutional investors collectively owned 94.01% of the stock.
• Waters exceeded quarterly expectations, reporting adjusted EPS of $3.05 versus $3.01 expected and revenue of $1.65 billion versus $1.62 billion expected. The company maintained 2026 EPS guidance of $14.45–$14.65.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $424.35 price target, but Waters trades at an elevated P/E ratio of about 102, leaving the stock vulnerable if growth or margins disappoint.

First Eagle Investment Management LLC reduced its stake in Waters Corporation (NYSE:WAT - Free Report) by 15.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,335,108 shares of the medical instruments supplier's stock after selling 240,079 shares during the period. First Eagle Investment Management LLC owned 1.36% of Waters worth $500,719,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caitlin John LLC lifted its stake in Waters by 43.9% in the second quarter. Caitlin John LLC now owns 82 shares of the medical instruments supplier's stock valued at $31,000 after buying an additional 25 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Waters by 0.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 7,608 shares of the medical instruments supplier's stock valued at $2,890,000 after acquiring an additional 26 shares during the last quarter. Clearstead Advisors LLC increased its stake in shares of Waters by 5.1% in the 4th quarter. Clearstead Advisors LLC now owns 616 shares of the medical instruments supplier's stock valued at $234,000 after acquiring an additional 30 shares during the last quarter. Avalon Trust Co raised its position in shares of Waters by 2.3% in the 1st quarter. Avalon Trust Co now owns 1,330 shares of the medical instruments supplier's stock valued at $396,000 after acquiring an additional 30 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of Waters by 2.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier's stock valued at $386,000 after acquiring an additional 30 shares during the period. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Stock Performance

Shares of WAT stock opened at $409.39 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.29 and a current ratio of 1.86. Waters Corporation has a 52 week low of $282.77 and a 52 week high of $426.22. The company's 50 day moving average price is $391.93 and its two-hundred day moving average price is $351.64. The company has a market capitalization of $40.22 billion, a P/E ratio of 102.09, a price-to-earnings-growth ratio of 2.38 and a beta of 1.19.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.04. Waters had a net margin of 3.58% and a return on equity of 11.27%. The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.62 billion. During the same quarter in the prior year, the company earned $2.95 earnings per share. The business's quarterly revenue was up 113.3% compared to the same quarter last year. 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, analysts expect that Waters Corporation will post 14.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of Waters from $425.00 to $470.00 and gave the company a "buy" rating in a report on Monday, August 10th. Wells Fargo & Company increased their target price on shares of Waters from $370.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $400.00 price target on shares of Waters in a research report on Wednesday, August 5th. The Goldman Sachs Group upped 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. Finally, Bank of America lifted their target price on Waters from $370.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Waters has an average rating of "Moderate Buy" and a consensus target price of $424.35.

Insiders Place Their Bets

In related news, Director Christopher Kuebler sold 3,626 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $397.94, for a total value of $1,442,930.44. Following the completion of the transaction, the director directly owned 17,808 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company's stock.

More Waters News

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Shares are up 3.1% since the company’s most recent earnings report, reflecting investor confidence after Waters exceeded quarterly expectations with adjusted EPS of $3.05 versus the $3.01 consensus and revenue of $1.65 billion versus $1.62 billion expected. Why Is Waters Up Since Last Earnings Report?
• Positive Sentiment: Analysts currently assign Waters a consensus recommendation of “Moderate Buy,” providing continued support for the stock. The company also maintained 2026 earnings guidance of $14.45 to $14.65 per share. Waters Given Moderate Buy Recommendation
• Neutral Sentiment: Waters’ latest results included strong reported year-over-year revenue growth and an earnings beat, but investors may focus on whether that momentum is sustainable and whether the company can deliver its full-year outlook.
• Negative Sentiment: The stock trades at a very elevated valuation—approximately 102 times earnings—so expectations are high. Any weaker-than-expected demand, guidance revision, or margin pressure could produce volatility despite the positive analyst consensus.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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