Waters (NYSE:WAT) Releases Q3 2026 Earnings Guidance

Waters (NYSE:WAT) updated its third quarter 2026 earnings guidance on Tuesday. The company provided EPS guidance of 3.950-4.050 for the period, compared to the consensus EPS estimate of 4.010. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Waters also updated its FY 2026 guidance to 14.450-14.650 EPS.

Waters Price Performance

Shares of NYSE WAT traded down $6.37 during midday trading on Thursday, hitting $393.63. The company had a trading volume of 177,323 shares, compared to its average volume of 1,028,846. The company has a quick ratio of 1.13, a current ratio of 0.77 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $372.13 and a two-hundred day simple moving average of $345.04. Waters has a twelve month low of $275.05 and a twelve month high of $414.15. The firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 98.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.19.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Waters had a net margin of 3.58% and a return on equity of 11.27%. The firm’s quarterly revenue was up 113.3% compared to the same quarter last year. During the same period last year, the company posted $2.95 earnings per share. 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 anticipate that Waters will post 14.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on WAT shares. Wolfe Research began coverage on Waters in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $425.00 target price on the stock. Wall Street Zen cut shares of Waters from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. HSBC lifted their target price on shares of Waters from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein initiated coverage on Waters in a research report on Friday, June 26th. They set an “outperform” rating and a $435.00 price objective for the company. Finally, Robert W. Baird set a $387.00 target price on Waters in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $418.10.

Institutional Investors Weigh In On Waters

Several institutional investors have recently bought and sold shares of WAT. Veritas Asset Management LLP increased its stake in Waters by 112.3% during the 4th quarter. Veritas Asset Management LLP now owns 1,241,206 shares of the medical instruments supplier’s stock worth $471,447,000 after buying an additional 656,436 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Waters by 509.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 671,103 shares of the medical instruments supplier’s stock valued at $254,906,000 after acquiring an additional 561,047 shares in the last quarter. Marshall Wace LLP increased its position in shares of Waters by 1,611.3% during the fourth quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier’s stock worth $220,705,000 after acquiring an additional 547,109 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Waters by 32.3% in the third quarter. Invesco Ltd. now owns 1,472,419 shares of the medical instruments supplier’s stock worth $441,446,000 after acquiring an additional 359,596 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Waters in the fourth quarter valued at about $70,316,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

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.