Avity Investment Management Inc. Reduces Stake in Waters Corporation $WAT

Avity Investment Management Inc. cut its holdings in shares of Waters Corporation (NYSE:WAT) by 75.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,816 shares of the medical instruments supplier’s stock after selling 8,625 shares during the quarter. Avity Investment Management Inc.’s holdings in Waters were worth $1,056,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in shares of Waters in the first quarter worth $27,000. Resources Management Corp CT ADV acquired a new position in Waters during the first quarter valued at $27,000. 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. Vision Retirement LLC purchased a new stake in Waters in the first quarter valued at $29,000. Finally, Bollard Group LLC acquired a new stake in Waters during the 1st quarter worth about $29,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters News Summary

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported second-quarter adjusted earnings of $3.05 per share, exceeding the $3.01 consensus estimate, while revenue reached $1.65 billion versus expectations of $1.62 billion. Management issued third-quarter earnings guidance of $3.95–$4.05 per share and maintained full-year guidance of $14.45–$14.65 per share. Waters Corporation 2026 Q2 Results Earnings Call Presentation
• Positive Sentiment: Analyst sentiment remains favorable following the results. Barclays raised its price target to $460 and kept an “overweight” rating, while Morgan Stanley set a $430 target. Waters has a consensus “Moderate Buy” rating and an average price target of $418.10. Waters analyst ratings and price targets
• Positive Sentiment: Recent institutional activity included new positions from several investment firms, and institutions collectively own approximately 94% of Waters’ outstanding shares, signaling substantial professional-investor support. Waters insider and institutional activity
• Neutral Sentiment: The stock is trading close to its 52-week high and well above its 50-day and 200-day moving averages. Its price-to-earnings ratio of about 101 suggests investors are already pricing in significant future growth.
• Negative Sentiment: Director Christopher Kuebler sold 3,626 shares for approximately $1.44 million, reducing his direct ownership by 16.92%. The transaction does not necessarily indicate a change in the company’s outlook, but it may create modest sentiment pressure. Waters director stock sale

Waters Stock Performance

NYSE:WAT opened at $406.94 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 0.77. The company has a fifty day moving average of $373.23 and a two-hundred day moving average of $345.56. The stock has a market capitalization of $39.96 billion, a PE ratio of 101.48, a P/E/G ratio of 2.36 and a beta of 1.19. Waters Corporation has a fifty-two week low of $275.05 and a fifty-two week high of $414.15.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.04. Waters had a net margin of 3.58% and a return on equity of 11.27%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business earned $2.95 earnings per share. The company’s revenue for the quarter was up 113.3% compared to the same quarter last year. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. As a group, research analysts forecast that Waters Corporation will post 14.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $400.00 price objective on shares of Waters in a report on Wednesday. Barclays boosted their price target on Waters from $425.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waters in a research note on Friday, July 17th. Wells Fargo & Company lifted their target price on shares of Waters from $370.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Stifel Nicolaus set a $420.00 price target on shares of Waters in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waters presently has an average rating of “Moderate Buy” and an average price target of $418.10.

Insider Buying and Selling

In other Waters news, Director Christopher A. Kuebler sold 3,626 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the completion of the transaction, the director owned 17,808 shares of the company’s stock, valued at $7,086,515.52. This represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% 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.