Waters (NYSE:WAT) Updates Q2 2026 Earnings Guidance

Waters (NYSE:WAT) issued an update on its second quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.950-3.050 for the period, compared to the consensus earnings per share estimate of 3.030. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Waters also updated its FY 2026 guidance to 14.400-14.600 EPS.

Waters Stock Up 12.7%

Shares of WAT stock traded up $38.27 during trading hours on Tuesday, reaching $340.15. 1,253,098 shares of the company’s stock were exchanged, compared to its average volume of 1,047,702. The company has a current ratio of 1.73, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $33.39 billion, a PE ratio of 31.58, a PEG ratio of 1.99 and a beta of 1.14. The stock’s fifty day moving average price is $309.75 and its two-hundred day moving average price is $351.98. Waters has a 1 year low of $275.05 and a 1 year high of $414.15.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.39. Waters had a return on equity of 34.79% and a net margin of 20.30%.The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted $2.25 EPS. The business’s quarterly revenue was up 91.4% on a year-over-year basis. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. Research analysts predict that Waters will post 14.38 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Waters from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Bank of America reduced their price target on Waters from $410.00 to $350.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company reduced their price target on Waters from $415.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. The Goldman Sachs Group raised Waters to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Waters from $370.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, March 25th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $387.53.

Insider Buying and Selling at Waters

In other Waters news, Director Wei Jiang purchased 500 shares of the firm’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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Key Stories Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Q1 beat and raised full-year targets — Waters reported adjusted EPS of $2.70 (vs. ~$2.31 consensus) and revenue of $1.267B (above estimates); management raised FY2026 revenue and EPS guidance, which underpins the bullish move. Quiver Quant: Q1 beat & guidance lift
• Positive Sentiment: Acquired biosciences & diagnostics business is contributing now — the BD businesses added roughly $520M of revenue in the quarter and helped drive the revenue beat and upward guidance. Reuters: Biosciences unit drives growth
• Positive Sentiment: Strong organic performance — organic revenue grew ~13% (11% constant currency), led by instrument and chemistry sales, indicating healthy underlying demand in pharma/drug‑development markets. PR Newswire: Q1 results & organic growth
• Positive Sentiment: Analyst and insider support — William Blair reiterated a Buy and there were recent insider purchases, which can reassure investors on the outlook and management confidence. TipRanks: Analyst reiteration
• Neutral Sentiment: Near-term guide vs. street — Waters gave Q2 EPS guidance of $2.95–$3.05 and revenue around $1.6B; that sets expectations for the next quarter but the EPS range sits roughly in line with or slightly below some street estimates, so Q2 execution will be watched closely. MarketBeat: Guidance details
• Neutral Sentiment: Valuation/technicals — the stock trades at a premium P/E (~31x) and is below its 200‑day moving average, so some investors may weigh valuation and technical resistance even after today’s move.
• Negative Sentiment: Large institutional rebalancing noted — some major managers trimmed positions in prior quarters (e.g., UBS AM reduced a large stake), a factor that could contribute to volatility despite the beat. Quiver Quant: Institutional moves & holdings

Institutional Investors Weigh In On Waters

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its holdings in Waters by 2.9% in the first quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock valued at $386,000 after purchasing an additional 30 shares during the last quarter. Zions Bancorporation National Association UT boosted its holdings in Waters by 121.2% in the fourth quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Waters by 0.4% in the fourth quarter. IFM Investors Pty Ltd now owns 11,302 shares of the medical instruments supplier’s stock valued at $4,293,000 after purchasing an additional 42 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Waters by 39.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 155 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 44 shares during the last quarter. Finally, Compound Planning Inc. raised its stake in Waters by 3.2% during the fourth quarter. Compound Planning Inc. now owns 1,538 shares of the medical instruments supplier’s stock valued at $584,000 after buying an additional 47 shares in the last quarter. Hedge funds and other 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.