Waters (NYSE:WAT) Issues FY 2026 Earnings Guidance

Key Points

• FY2026 guidance: Waters forecasted EPS of 14.40–14.60 (slightly above the consensus 14.38) and revenue of $6.4B–$6.5B, with Q2 EPS guidance set at 2.95–3.05.
• Quarterly beat: The company reported quarterly EPS of $2.70 versus the $2.31 consensus and revenue of $1.27B versus $1.20B, with a net margin of 20.3% and ROE of 34.79%.
• Analyst and ownership backdrop: Waters carries an average analyst rating of “Moderate Buy” with a $387.53 average price target, and institutional investors own about 94.01% of the stock after several large funds increased positions.

Waters (NYSE:WAT - Get Free Report) updated its FY 2026 earnings guidance on Tuesday. The company provided EPS guidance of 14.400-14.600 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays started 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. UBS Group cut their price target on shares of Waters from $370.00 to $330.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Waters from $370.00 to $330.00 and set a "hold" rating on the stock in a research report on Wednesday, March 25th. Morgan Stanley cut their price objective on shares of Waters from $423.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Sunday, February 22nd. Finally, William Blair began coverage on shares of Waters in a research report on Monday, January 5th. They set an "outperform" rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Waters presently has an average rating of "Moderate Buy" and an average price target of $387.53.

Waters Price Performance

WAT stock opened at $302.04 on Tuesday. The stock has a market capitalization of $29.65 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The company's 50-day moving average is $309.75 and its 200-day moving average is $351.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.73 and a quick ratio of 1.27. Waters has a 1 year low of $275.05 and a 1 year high of $414.15.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 earnings per share 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 business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.20 billion. 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 expect that Waters will post 14.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Waters news, Director Wei Jiang purchased 500 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average price of $289.46 per share, with a total value of $144,730.00. Following the transaction, the director owned 3,441 shares in the company, valued at $996,031.86. The trade was a 17.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Waters

Several large investors have recently added to or reduced their stakes in WAT. Veritas Asset Management LLP lifted its position in Waters by 112.3% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Waters by 509.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 671,103 shares of the medical instruments supplier's stock valued at $254,906,000 after acquiring an additional 561,047 shares in the last quarter. Marshall Wace LLP lifted its position in Waters by 1,611.3% in the 4th quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier's stock valued at $220,705,000 after acquiring an additional 547,109 shares in the last quarter. Invesco Ltd. lifted its position in Waters by 32.3% in the 3rd quarter. Invesco Ltd. now owns 1,472,419 shares of the medical instruments supplier's stock valued at $441,446,000 after acquiring an additional 359,596 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Waters in the 4th quarter valued at about $70,316,000. 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.

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