Waters (NYSE:WAT) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI started coverage on shares of Waters (NYSE:WAT) in a report released on Tuesday. The brokerage issued an in-line rating and a $360.00 price target on the medical instruments supplier’s stock.

Other equities analysts have also issued research reports about the company. Barclays began coverage on Waters in a research note on Tuesday. They issued an “overweight” rating and a $400.00 target price on the stock. Morgan Stanley assumed coverage on shares of Waters in a research report on Monday, December 1st. They issued an “equal weight” rating and a $423.00 price objective on the stock. Wall Street Zen downgraded shares of Waters from a “buy” rating to a “hold” rating in a research note on Sunday. TD Cowen reaffirmed a “hold” rating on shares of Waters in a report on Wednesday, November 5th. Finally, William Blair assumed coverage on Waters in a report on Monday, January 5th. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $400.84.

Waters Trading Down 0.4%

NYSE:WAT opened at $326.82 on Tuesday. The firm has a 50-day simple moving average of $385.01 and a 200-day simple moving average of $347.69. Waters has a one year low of $275.05 and a one year high of $414.15. The firm has a market cap of $19.46 billion, a P/E ratio of 30.35, a P/E/G ratio of 2.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.08 and a current ratio of 1.53.

Waters (NYSE:WAT) last issued its quarterly earnings data on Monday, February 9th. The medical instruments supplier reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.03. The company had revenue of $932.36 million for the quarter, compared to analyst estimates of $928.17 million. Waters had a net margin of 20.30% and a return on equity of 36.45%. Waters’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. Waters has set its FY 2026 guidance at 14.300-14.500 EPS and its Q1 2026 guidance at 2.250-2.350 EPS. Equities analysts anticipate that Waters will post 12.86 EPS for the current fiscal year.

Institutional Trading of Waters

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Waters by 3.3% in the third quarter. Vanguard Group Inc. now owns 7,656,891 shares of the medical instruments supplier’s stock worth $2,295,612,000 after acquiring an additional 246,128 shares during the period. Alliancebernstein L.P. boosted its holdings in Waters by 31.0% in the second quarter. Alliancebernstein L.P. now owns 4,021,358 shares of the medical instruments supplier’s stock valued at $1,403,615,000 after purchasing an additional 950,687 shares during the last quarter. Fundsmith LLP grew its position 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 purchasing an additional 347,091 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $806,397,000 after buying an additional 825,723 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Waters by 1.4% in the second quarter. State Street Corp now owns 2,676,198 shares of the medical instruments supplier’s stock worth $934,100,000 after buying an additional 37,763 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Key Waters News

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Q4 results beat expectations — Waters reported $4.53 EPS and $932M revenue, topping consensus and showing year‑over‑year revenue growth, supporting the company’s operating strength. Zacks: Waters Beats Q4
• Positive Sentiment: Major analyst bullishness: Guggenheim reaffirmed a Buy and set a $440 price target, and Citi initiated coverage with a Buy and $425 target — both imply sizable upside versus the current level. Benzinga / Guggenheim TickerReport / Citi
• Positive Sentiment: Waters completed the Reverse Morris Trust combination with BD’s Biosciences & Diagnostic Solutions business, creating a larger life‑sciences company and naming Claire M. Fraser, Ph.D. to the board — a strategic step that management says will drive scale and synergies. PR Newswire: Combination Closed
• Neutral Sentiment: Evercore ISI initiated coverage with an In‑Line rating and $360 target — modest upside but not an upgrade; this is informational rather than a clear directional catalyst.
• Negative Sentiment: Near‑term guidance disappointed: Waters guided Q1 EPS of $2.25–$2.35 vs. consensus ~ $2.52 and flagged first‑quarter profit below Wall Street estimates, which pressured sentiment. Yahoo Finance: Q1 Forecast
• Negative Sentiment: Several analysts trimmed targets or tempered ratings: Bank of America cut its price target to $350 and kept a Neutral rating, and TD Cowen maintained a Hold while lowering its target to $373 — incremental negative influence on sentiment. Benzinga / BofA TipRanks / TD Cowen
• Positive Sentiment: Management set FY‑2026 targets that reflect the BD integration: projected revenue around $6.4–$6.46B and a target margin near 28.1%, signaling potential longer‑term upside if synergies materialize. MSN: FY2026 Targets

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.