Barclays Upgrades Waters (NYSE:WAT) to “Strong-Buy”

Waters (NYSE:WAT) was upgraded by research analysts at Barclays to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on WAT. Evercore ISI began coverage on shares of Waters in a report on Tuesday. They issued a “hold” rating and a $360.00 price objective for the company. William Blair began coverage on shares of Waters in a research note on Monday, January 5th. They set an “outperform” rating for the company. Citigroup initiated coverage on shares of Waters in a report on Tuesday. They set a “buy” rating and a $425.00 price target on the stock. UBS Group decreased their price objective on Waters from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wall Street Zen downgraded Waters from a “buy” rating to a “hold” rating in a report on Sunday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Waters presently has a consensus rating of “Moderate Buy” and an average price target of $397.68.

Waters Stock Up 0.8%

Shares of WAT opened at $329.65 on Tuesday. 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 has a 52 week low of $275.05 and a 52 week high of $414.15. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.71 and a beta of 1.18. The stock has a fifty day moving average of $383.65 and a 200-day moving average of $347.56.

Waters (NYSE:WAT) last issued its earnings results on Monday, February 9th. The medical instruments supplier reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.50 by $0.03. Waters had a return on equity of 36.45% and a net margin of 20.30%.The business had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $928.17 million. During the same quarter in the prior year, the firm earned $4.10 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Waters has set its FY 2026 guidance at 14.300-14.500 EPS and its Q1 2026 guidance at 2.250-2.350 EPS. As a group, sell-side analysts anticipate that Waters will post 12.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mawer Investment Management Ltd. grew its stake in Waters by 225.5% during the third quarter. Mawer Investment Management Ltd. now owns 1,551,010 shares of the medical instruments supplier’s stock worth $465,008,000 after purchasing an additional 1,074,449 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Waters by 31.0% during the 2nd quarter. Alliancebernstein L.P. now owns 4,021,358 shares of the medical instruments supplier’s stock worth $1,403,615,000 after buying an additional 950,687 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 worth $806,397,000 after buying an additional 825,723 shares during the period. Norges Bank acquired a new stake in shares of Waters during the 2nd quarter worth approximately $266,384,000. Finally, Veritas Asset Management LLP bought a new stake in shares of Waters in the 3rd quarter valued at $175,320,000. 94.01% of the stock is 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 modestly (EPS and revenue) and showed healthy margin/ROE; management provided FY‑2026 EPS guidance (14.30–14.50) showing underlying profitability, supporting longer‑term earnings visibility. Waters Q4 2025 earnings call transcript
• Positive Sentiment: Waters has completed the combination with BD’s Biosciences & Diagnostic Solutions businesses — a strategic deal that expands Waters’ product set and end‑market exposure and could drive revenue diversification over time. Waters completes combination with BD
• Neutral Sentiment: BD completed its spin‑off/merger and reportedly secured proceeds (~$4B) as it refocuses on core MedTech — the transaction reshapes both companies but immediate cash flow impacts are primarily on BD. BD merges biosciences & diagnostics with Waters
• Neutral Sentiment: Several sell‑/hold‑side firms initiated or reiterated coverage with a wide range of targets (Guggenheim, Citi bullish; Evercore neutral). This creates mixed analyst signals for the stock’s medium‑term outlook. Analyst coverage notes (Benzinga)
• Negative Sentiment: Waters issued a weak Q1 profit outlook that prompted a slide in shares as investors reacted to near‑term margin and integration risks tied to the BD combination. Waters forecasts weak Q1, shares slide
• Negative Sentiment: Multiple price‑target cuts and neutral/hold actions (Wells Fargo lowered target to $355; BofA to $350; TD Cowen trimmed target) are increasing near‑term downward pressure on the stock. Analyst target changes (Benzinga)
• Negative Sentiment: Shares have underperformed some peers recently, reflecting investor caution around integration execution and short‑term profitability. Waters underperforms peers

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.