Waters Corporation (WAT)

Waters Corporation's stock (WAT) has experienced some fluctuations in the past six months. As of October 28, 2025, the stock has risen by 5.75% compared to the previous week and seen a 23.29% rise over the last month. Year-to-date, the stock is down 5.71%, but it has shown a 7.30% increase over the last year. Waters currently holds an average rating of "Moderate Buy" with an average target price of $376.80. Recent analyst activities include Rothschild & Co initiating coverage with a "Buy" recommendation in October 2025, and Redburn Partners setting a $390.00 price target in October 2025. JPMorgan Chase & Co. increased its price target from $300.00 to $325.00 in October 2025, while Deutsche Bank Aktiengesellschaft maintained a "hold" rating with a $315.00 price target in August 2025. Scotiabank reaffirmed a "sector outperform" rating with a $465.00 price target in July 2025. The company reported its second-quarter 2025 earnings conference call scheduled for August 4, 2025. Earlier, in February 2025, Waters Corporation reported its fourth-quarter and full-year 2024 financial results, with sales for fiscal year 2024 being flat compared to 2023. Instrument system sales increased by 6% as reported and 8% in constant currency during the fourth quarter of 2024. Recurring revenues also saw an increase of 7% as reported and 9% in constant currency. Geographically, sales in Asia, the Americas, and Europe all showed increases in the fourth quarter of 2024.

Waters Corporation typically experiences seasonality in its orders, with an increase in sales during the fourth quarter due to customers exhausting their spending budgets by the calendar year-end. The company's recurring revenue, which includes service and precision chemistries, has shown resilience across various market conditions. The company's ability to forecast customer demand and allocate research and development expenditures effectively to high-growth and high-margin products is crucial.

Waters Corporation is a global leader in analytical instruments, separations technologies, and software, serving the life, materials, food, and environmental sciences sectors. The company designs, manufactures, sells, and services analytical instruments and related products. Its primary industry is Life Sciences, and it is also involved in the Medical Specialties industry. Waters' major products and technologies include high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), chromatography columns and chemistry products, mass spectrometry (MS) systems, thermal analysis, rheometry, and calorimetry instruments. The company also offers laboratory informatics and software solutions. Waters' solutions are utilized by pharmaceutical, life sciences, biochemical, and industrial sectors, as well as academic and governmental institutions for research and development, quality assurance, and other laboratory applications.

Waters Corporation operates in over 100 countries and has more than 7,600 employees globally. The company's primary manufacturing facilities are located in nine U.S. locations and 11 international locations, including Wexford, Ireland; Wilmslow and Birmingham, UK; Hüllhorst, Germany; Singapore; Bangalore, India; Beijing and Shanghai, China. Other key offices and subsidiaries are found in Germany, Spain, Romania, Hong Kong, and the United Kingdom.

Waters Corporation has maintained a positive brand reputation in the past year, marked by recognition for product innovation, leadership, and commitment to environmental, social, and governance (ESG) practices. In 2022, the company received over 20 awards for excellence in these areas, including inclusion in the Dow Jones Sustainability Index and Barron's 100 Most Sustainable Companies. Waters' instruments, informatics software, and chemistry products were recognized for innovation and quality by organizations such as Wiley Analytical Science and BioTech Breakthrough Awards. In October 2025, Dr. Udit Batra, CEO of Waters Corporation, was featured in an interview with McKinsey & Company, discussing how core leadership practices have helped the company bolster its brand and deliver greater returns. Waters also announced in October 2024 the launch of the Waters Xevo Charge Detection Mass Spectrometer (CDMS).

Major institutional and individual owners of Waters Corporation (WAT) include various investment firms. AG2R LA Mondiale Gestion D Actifs increased its stake in Waters Corporation by 27.0% during the second quarter of 2025, owning a total of 3,835 shares valued at approximately $1,339,000. Forum Financial Management LP also acquired a new position of 992 shares, valued at approximately $346,000, in the second quarter of 2025.