Waters Corporation (WAT)

Over the past six months, Waters Corp. stock has experienced some fluctuations. As of March 26, 2025, WAT stock declined 4.8% over the preceding six months. On February 12, 2025, WAT shares closed down more than 5% after reporting its Q4 2024 results, despite adjusted EPS and revenue surpassing Wall Street expectations. In March and April 2025, several analysts upgraded their outlook for Waters. The share price as of June 6, 2025, was $351.17, an increase of 16.49% from June 10, 2024, when it was $301.47. As of June 27, 2025, the share price was $352.41.

Specific information regarding the demand seasonality for Waters Corp.'s products and services is not explicitly detailed. Waters generates recurring revenue from service contracts and precision chemistries, suggesting a relatively stable base of demand. The company's business is tied to the expenditures and funding of its customers, and fluctuations in these areas could impact demand. The company noted ongoing headwinds from China, indicating regional demand variations. Waters saw a steady improvement in customer spending throughout Q2 2024, suggesting some cyclicality or recovery trends. The company is focused on expanding into high-growth markets and capitalizing on the expanding biologics market, indicating a strategic focus on areas with consistent or growing demand. The company's products are crucial for drug discovery, drug development, and quality control, suggesting a relatively consistent demand.

Waters Corporation is a global leader in analytical instruments, software, and services, primarily serving the life sciences, materials science, and food industries. Founded in 1958 and headquartered in Milford, Massachusetts, USA, Waters Corp. operates within the Health Technology sector, specifically in the Medical Specialties and Biotechnology: Laboratory Analytical Instruments industries. The company's core business revolves around high-performance analytical instruments and related solutions, including Liquid Chromatography (LC) systems, Mass Spectrometry (MS) instruments, Thermal Analysis instruments, and Software and Consumables. Waters Corporation's products are essential for various laboratory-dependent organizations, with a significant portion of its sales coming from pharmaceutical customers, industrial clients, and academic/government institutions. The company has strategically enhanced its offerings in the biologics segment, which accounts for approximately 35% of its pharmaceutical revenue.

Waters Corporation operates globally, with a significant presence in North America, Europe, and Asia-Pacific. The company has been expanding its footprint in emerging markets to capitalize on growing demand. Waters operates directly in 35 countries and its products are available in more than 100 countries. It has manufacturing facilities in Milford and Taunton, Massachusetts, USA; Wexford, Ireland; and Wilmslow, Cheshire, UK. In November 2024, Waters opened a new precision manufacturing facility in Longbridge, UK, tripling its manufacturing footprint in the region.

Waters Corporation has a strong brand reputation for quality and reliability in the analytical instruments industry. The company delivered top-tier total shareholder returns in 2024 and its service team has been recognized for delivering the highest service satisfaction scores. Waters maintains a strong focus on innovation, continuously investing in research and development. Recent product introductions and acquisitions positively impact reputation, including enhancements to the Alliance iS HPLC System Software, the Xevo TQ Absolute XR Mass Spectrometer, BioResolve Protein A Affinity Columns, and the acquisition of Halo Labs. Waters is committed to sustainability, with a goal to achieve carbon neutrality by 2040. No specific negative events significantly impacted Waters Corp.'s brand reputation in the past year.

Waters Corporation is primarily owned by institutional shareholders, who hold approximately 95.12% of the company's stock. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Fundsmith LLP, Alliancebernstein L.P., State Street Corp, Massachusetts Financial Services Co /ma/, Bank of New York Mellon Corp, and Geode Capital Management, Llc. Douglas A. Berthiaume is the largest individual Waters shareholder, owning 5.76% of the company. Waters insiders own 8.12% of the company, while retail investors hold 0.00%.