Carderock Capital Management Inc. Makes New $2.78 Million Investment in Waters Corporation $WAT

Carderock Capital Management Inc. bought a new position in shares of Waters Corporation (NYSE:WAT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 7,417 shares of the medical instruments supplier’s stock, valued at approximately $2,782,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Waters in the 4th quarter valued at approximately $265,751,000. Veritas Asset Management LLP grew its holdings in Waters by 112.3% during the fourth quarter. Veritas Asset Management LLP now owns 1,241,206 shares of the medical instruments supplier’s stock valued at $471,447,000 after purchasing an additional 656,436 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 purchasing an additional 561,047 shares during the period. Marshall Wace LLP increased its stake in Waters by 1,611.3% in the fourth quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier’s stock valued at $220,705,000 after purchasing an additional 547,109 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Waters by 2,281.7% in the fourth quarter. Millennium Management LLC now owns 538,713 shares of the medical instruments supplier’s stock valued at $204,619,000 after purchasing an additional 516,094 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Trading Up 5.4%

NYSE WAT opened at $395.15 on Wednesday. Waters Corporation has a 52 week low of $275.05 and a 52 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 stock’s 50 day moving average price is $371.03 and its two-hundred day moving average price is $345.01. The stock has a market capitalization of $38.80 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 2.27 and a beta of 1.19.

Waters (NYSE:WAT) last issued 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. Waters had a net margin of 11.91% and a return on equity of 15.60%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $2.95 EPS. The business’s quarterly revenue was up 113.3% on a year-over-year basis. 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, analysts anticipate that Waters Corporation will post 14.51 earnings per share for the current fiscal year.

Key Stories Impacting Waters

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 analyst consensus and rising from $2.95 a year earlier. Revenue reached $1.645 billion, above the high end of the company’s prior outlook, with organic revenue up 7% reported and 9% in constant currency. Waters Corporation Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its full-year 2026 adjusted EPS forecast to $14.45-$14.65 and revenue outlook to approximately $6.415-$6.476 billion, broadly ahead of or in line with existing expectations. The higher forecast reflects strong laboratory-equipment and diagnostics demand, as well as contributions from acquired businesses. Waters Lifts Annual Forecasts on Strong Lab-Equipment and Diagnostics Demand
• Positive Sentiment: Management cited 8% instrument growth, double-digit chemistry-consumables growth and improving pharmaceutical and applied-market demand, indicating that the end-market recovery is becoming more widespread. An analyst at William Blair maintained a Buy rating, pointing to recovery potential and acquisition synergies. Analyst Maintains Buy on Waters
• Neutral Sentiment: Third-quarter guidance calls for adjusted EPS of $3.95-$4.05, near the $4.01 consensus, while revenue guidance of $1.7-$1.8 billion has a midpoint below the $1.8 billion expectation. This may limit near-term upside despite the stronger full-year outlook.
• Neutral Sentiment: Waters posted a GAAP loss of $1.39 per share, compared with a $2.47 profit a year earlier, but the result was affected by acquisition-related items; adjusted EPS remained profitable and improved year over year. Waters Reports Second Quarter 2026 Revenue

Analyst Ratings Changes

Several research firms have weighed in on WAT. Wolfe Research assumed coverage on shares of Waters in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $425.00 target price on the stock. Robert W. Baird set a $387.00 price objective on shares of Waters in a research report on Wednesday, May 6th. Guggenheim reaffirmed a “buy” rating and set a $440.00 price objective on shares of Waters in a research note on Wednesday, July 8th. The Goldman Sachs Group lifted their target price on Waters from $380.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, HSBC boosted their target price on Waters from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $402.47.

Waters 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.