Waters (NYSE:WAT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• Q1 earnings beat and raised guidance: Waters reported adjusted EPS of $2.70 (vs. $2.31 est.) and revenue of $1.267B (up 91.4% YoY), and raised FY2026 guidance, with the recently acquired biosciences/diagnostics unit contributing roughly $520M of the quarter's revenue.
• Analyst landscape mixed: JPMorgan lifted its price target to $345 but maintained a "neutral" rating (implying ~1.4% downside vs. the current price), while the broader analyst consensus is a "Moderate Buy" with an average target of $392.47.
• Market reaction and ownership: Shares rose about 2.1% to $349.91 on heavy volume after the print; a director recently purchased shares and institutional investors own roughly 94.01% of the stock.

Waters (NYSE:WAT - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $330.00 to $345.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the medical instruments supplier's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 1.40% from the company's current price.

A number of other brokerages have also weighed in on WAT. Bank of America decreased their target price on Waters from $410.00 to $350.00 and set a "neutral" rating for the company in a research report on Tuesday, February 10th. HSBC assumed coverage on Waters in a research report on Tuesday, January 27th. They set a "buy" rating and a $460.00 target price for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Waters in a research report on Monday, April 20th. Wall Street Zen lowered Waters from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Finally, Robert W. Baird set a $387.00 price target on Waters in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $392.47.

Waters Stock Up 2.1%

NYSE WAT traded up $7.16 on Wednesday, reaching $349.91. 1,865,282 shares of the stock traded hands, compared to its average volume of 1,067,957. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.73. The company has a fifty day moving average price of $309.94 and a 200-day moving average price of $352.05. The company has a market cap of $34.35 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.96 and a beta of 1.14. Waters has a 12 month low of $275.05 and a 12 month high of $414.15.

Waters (NYSE:WAT - Get Free Report) last issued its earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.39. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.20 billion. Waters had a return on equity of 34.79% and a net margin of 20.30%.Waters's revenue was up 91.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. As a group, research analysts forecast that Waters will post 14.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Waters news, Director Wei Jiang bought 500 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $289.46 per share, for a total transaction of $144,730.00. Following the purchase, the director directly owned 3,441 shares in the company, valued at $996,031.86. This represents a 17.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Waters by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,656,891 shares of the medical instruments supplier's stock worth $2,295,612,000 after buying an additional 246,128 shares during the last quarter. Fundsmith LLP grew its stake in Waters by 9.6% during the 3rd quarter. Fundsmith LLP now owns 3,955,498 shares of the medical instruments supplier's stock worth $1,185,898,000 after buying an additional 347,091 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Waters by 44.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,689,693 shares of the medical instruments supplier's stock worth $806,397,000 after buying an additional 825,723 shares during the last quarter. Geode Capital Management LLC grew its stake in Waters by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,593,388 shares of the medical instruments supplier's stock worth $602,921,000 after buying an additional 8,590 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its stake in Waters by 225.5% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,551,010 shares of the medical instruments supplier's stock worth $465,008,000 after buying an additional 1,074,449 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Key Waters News

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Q1 earnings beat and raised FY outlook — Waters reported adjusted EPS of $2.70 (vs. ~$2.31 consensus) and raised FY 2026 guidance, driven by outperformance in organic sales and the newly acquired biosciences unit; that beat-and-lift is the primary catalyst for the move higher. Waters raises annual profit forecast as biosciences unit drives growth
• Positive Sentiment: Acquired biosciences & diagnostics unit contributed materially to revenue — Waters said ~$520M of the quarter’s $1.267B came from the recently closed BD-related businesses, signaling faster-than-expected integration and early revenue contribution. Waters Corporation Reports First Quarter 2026 Financial Results
• Positive Sentiment: Market commentary highlights product relevance to GLP‑1 supply chain — CEO noted Waters’ separation columns are used by the large GLP‑1 distributors, reinforcing secular demand from high‑growth drug development programs. Our separation columns are used for both of the large GLP-1 distributors, says Waters Corp. CEO
• Neutral Sentiment: Management points to China as an innovation and growth market — CEO commentary emphasizes China’s growing role in biopharma innovation, a longer‑term growth opportunity but less immediate than the quarter’s results. Waters CEO highlights China as key innovation source in the biopharma market
• Negative Sentiment: Near‑term guide nuance — Q2 EPS was guided to $2.95–$3.05 (street ~3.03), so the midpoint is roughly in line but slightly under some estimates; that nuance could temper upside if investors focus on quarterly cadence rather than the upgraded full‑year view. Waters Corporation Reports First Quarter 2026 Financial Results

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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