Waters (NYSE:WAT) Issues Q1 2026 Earnings Guidance

Waters (NYSE:WAT) issued an update on its first quarter 2026 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.250-2.350 for the period, compared to the consensus earnings per share estimate of 2.520. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $713.0 million. Waters also updated its FY 2026 guidance to 14.300-14.500 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Waters from $385.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Guggenheim started coverage on Waters in a research report on Tuesday, January 6th. They set a “buy” rating and a $440.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Waters in a report on Wednesday, January 21st. Wolfe Research upgraded Waters from a “peer perform” rating to an “outperform” rating and set a $480.00 price target on the stock in a research note on Wednesday, December 10th. Finally, Morgan Stanley initiated coverage on Waters in a research report on Monday, December 1st. They set an “equal weight” rating and a $423.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.12.

Waters Stock Performance

Shares of WAT stock opened at $381.95 on Monday. The stock’s 50-day moving average price is $387.85 and its 200 day moving average price is $347.31. The company has a quick ratio of 1.08, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $22.75 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 3.19 and a beta of 1.18. Waters has a 52-week low of $275.05 and a 52-week high of $415.11.

Waters (NYSE:WAT) last announced its quarterly earnings data on Thursday, February 12th. 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 analysts’ expectations of $928.17 million. Waters had a net margin of 20.89% and a return on equity of 36.59%. Waters’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 EPS. As a group, equities research analysts forecast that Waters will post 12.86 EPS for the current year.

Key Headlines Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported Q4 results that modestly beat estimates: non‑GAAP EPS of $4.53 vs. consensus $4.50 and revenue of $932.4M vs. ~$928.2M, with healthy margins and ROE. This shows ongoing operational strength heading into the year. Waters Q4 & FY 2025 Results
• Positive Sentiment: Waters completed the combination with BD’s Biosciences & Diagnostic Solutions business and named Claire M. Fraser, Ph.D., to the company — a transaction that materially increases scale and recurring-revenue opportunities (explains the much higher revenue guidance). Combination Announcement
• Positive Sentiment: FY 2026 guidance: EPS of $14.30–$14.50 (in line/slightly above consensus ~$14.29) and revenue guidance of $6.4–$6.5B (well above prior consensus), reflecting the BD combination and implying meaningful top-line scale for the year. (No link provided in the filing summary)
• Neutral Sentiment: Company published its full press release and slide deck for the quarter — useful for investors who want detailed segment, backlog and recurring‑revenue breakdowns. Q4 Slide Deck
• Negative Sentiment: Q1 2026 EPS guidance came in at $2.25–$2.35 vs. the consensus ~$2.52 — a notable miss on near‑term profitability expectations that likely pressured the stock despite stronger revenue guidance for the quarter. (No link provided in the filing summary)
• Negative Sentiment: Analyst action: Wall Street Zen lowered its rating to Hold, which can amplify selling pressure in the short term. Rating Change

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Waters during the third quarter valued at approximately $2,462,000. Danske Bank A S purchased a new stake in Waters in the 3rd quarter worth approximately $6,442,000. Morningstar Investment Management LLC acquired a new position in Waters in the 3rd quarter valued at $3,870,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Waters by 1.3% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 46,363 shares of the medical instruments supplier’s stock worth $13,406,000 after purchasing an additional 593 shares during the period. Finally, Woodline Partners LP boosted its holdings in shares of Waters by 88.0% during the third quarter. Woodline Partners LP now owns 115,465 shares of the medical instruments supplier’s stock worth $34,618,000 after purchasing an additional 54,054 shares during the last quarter. Institutional investors and hedge funds 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.