Groupe la Francaise Boosts Stake in Waters Corporation $WAT

Key Points

• Groupe la Francaise increased its Waters stake by 53.3% in the second quarter, bringing its holdings to 47,551 shares valued at approximately $17.85 million. Institutional investors collectively own 94.01% of the company.
• Waters exceeded quarterly expectations with adjusted EPS of $3.05 versus $3.01 expected and revenue of $1.65 billion versus $1.62 billion forecast. The company maintained 2026 EPS guidance of $14.45–$14.65, while analysts’ consensus rating remains “Moderate Buy.”
• Shares opened at $409.39 and trade at an elevated P/E ratio of about 102, leaving the stock vulnerable to volatility if demand, margins, or guidance disappoint. The average analyst price target is $424.35.

Groupe la Francaise lifted its position in Waters Corporation (NYSE:WAT - Free Report) by 53.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,551 shares of the medical instruments supplier's stock after purchasing an additional 16,542 shares during the quarter. Groupe la Francaise's holdings in Waters were worth $17,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WAT. Brighton Jones LLC boosted its holdings in shares of Waters by 112.9% in the fourth quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock valued at $471,000 after acquiring an additional 673 shares during the period. Integrated Wealth Concepts LLC increased its holdings 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. Goldman Sachs Group Inc. increased its holdings in shares of Waters by 3.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,051 shares of the medical instruments supplier's stock valued at $73,733,000 after acquiring an additional 6,976 shares during the period. Empowered Funds LLC raised its position in Waters by 16.6% in the 1st quarter. Empowered Funds LLC now owns 1,126 shares of the medical instruments supplier's stock valued at $415,000 after purchasing an additional 160 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Waters during the 2nd quarter worth $232,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Stock Performance

Shares of WAT opened at $409.39 on Monday. The stock has a market capitalization of $40.22 billion, a P/E ratio of 102.09, a P/E/G ratio of 2.38 and a beta of 1.19. 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 1 year low of $282.77 and a 1 year high of $426.22. The company's fifty day moving average is $391.93 and its two-hundred day moving average is $351.64.

Waters (NYSE:WAT - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.62 billion. Waters had a net margin of 3.58% and a return on equity of 11.27%. The business's revenue was up 113.3% on a year-over-year basis. During the same quarter last year, the business earned $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. On average, sell-side analysts predict that Waters Corporation will post 14.56 earnings per share for the current year.

Key Stories Impacting Waters

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.

Analyst Ratings Changes

Several research analysts have issued reports on WAT shares. Bank of America raised their price objective on shares of Waters from $370.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group upped their target price on shares of Waters from $380.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Stifel Nicolaus set a $420.00 price target on Waters in a report on Wednesday, August 5th. Sanford C. Bernstein started coverage on Waters in a research report on Friday, June 26th. They issued an "outperform" rating and a $435.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $400.00 price objective on shares of Waters in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Waters has an average rating of "Moderate Buy" and an average price target of $424.35.

Insider Transactions at Waters

In related news, Director Christopher Kuebler sold 3,626 shares of the firm's stock in a transaction dated 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 sale, the director owned 17,808 shares in the company, valued at $7,086,515.52. This trade represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

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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