Waters (NYSE:WAT) Updates FY 2026 Earnings Guidance

Waters (NYSE:WAT) issued an update on its FY 2026 earnings guidance on Tuesday. The company provided EPS guidance of 14.450-14.650 for the period, compared to the consensus EPS estimate of 14.510. 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 Q3 2026 guidance to 3.950-4.050 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WAT. Stifel Nicolaus set a $420.00 target price on Waters in a research report on Wednesday. Piper Sandler initiated coverage on Waters in a research report on Thursday, June 11th. They set a “neutral” rating and a $400.00 price target for the company. Wells Fargo & Company boosted their price target on Waters from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore reissued an “outperform” rating and issued a $420.00 price objective on shares of Waters in a report on Wednesday. Finally, UBS Group raised their price objective on Waters from $330.00 to $375.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Three equities research 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 stock. According to MarketBeat, Waters has an average rating of “Moderate Buy” and an average price target of $413.60.

Waters Stock Performance

NYSE WAT traded up $1.71 on Wednesday, reaching $397.79. 247,501 shares of the company’s stock traded hands, compared to its average volume of 1,028,768. Waters has a fifty-two week low of $275.05 and a fifty-two week high of $414.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.79. The firm has a market cap of $39.06 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 2.27 and a beta of 1.19. The stock has a 50 day moving average price of $371.03 and a 200-day moving average price of $345.01.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.04. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.62 billion. Waters had a return on equity of 15.60% and a net margin of 11.91%.The firm’s revenue for the quarter was up 113.3% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. Equities research analysts predict that Waters will post 14.51 EPS for the current fiscal year.

More Waters News

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Waters reported adjusted EPS of $3.05 versus the $3.01 consensus estimate and revenue of $1.645 billion versus expectations of $1.62 billion. Organic revenue grew 7% year over year, or 9% in constant currency, while instrument and chemistry-consumables demand strengthened across pharmaceutical and industrial end markets. Waters Corporation Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 outlook. Full-year adjusted EPS guidance increased to $14.45–$14.65, with reported revenue guidance of approximately $6.415–$6.476 billion. The upgraded forecast reflects solid demand in Waters’ core business and contributions from its acquired Biosciences and Diagnostic Solutions operations. Waters lifts annual forecasts
• Positive Sentiment: Analyst support remains favorable. William Blair maintained a Buy rating, citing broad-based end-market recovery and acquisition-related synergies. William Blair maintains Buy rating
• Neutral Sentiment: Wells Fargo raised its price target to $400 from $370 but kept an Equal Weight rating. The new target implies minimal upside from recent trading levels, suggesting the firm views much of the improved outlook as already reflected in WAT’s valuation. Wells Fargo price-target update
• Negative Sentiment: Third-quarter revenue guidance was slightly below consensus. Waters forecast revenue of $1.7–$1.8 billion, compared with an analyst estimate near $1.8 billion, while its EPS range of $3.95–$4.05 bracketed the $4.01 consensus. The quarter also included a GAAP loss related to acquisition effects, despite adjusted earnings growth. Waters earnings call highlights

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT grew its stake in shares of Waters by 121.2% during the 4th quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 40 shares during the period. DV Equities LLC acquired a new stake in Waters during the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. grew its position in Waters by 39.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 155 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 44 shares during the period. MUFG Securities EMEA plc purchased a new position in Waters in the second quarter valued at $61,000. Finally, State of Wyoming acquired a new position in shares of Waters in the second quarter worth about $75,000. 94.01% of the stock is owned by institutional investors and hedge funds.

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.