Waters Corporation (NYSE:WAT) has received a positive earnings forecast for the first quarter of 2026, according to a report by Leerink Partners. Analyst P. Souda predicts that the medical instruments supplier will achieve earnings of $2.51 per share during the quarter. This projection comes as the company prepares to report its current full-year earnings, which are estimated to reach $12.86 per share.
Future Earnings Estimates and Recent Performance
In addition to the Q1 2026 estimate, Leerink Partners has provided further forecasts for Waters’ earnings throughout the year. The expected earnings per share for Q2 2026 is $3.38, followed by $3.58 for Q3 2026, and $4.92 for Q4 2026. The overall earnings projection for the fiscal year 2026 stands at $14.40 per share.
On August 4, 2025, Waters reported its most recent quarterly earnings, revealing earnings of $2.95 per share, exceeding analysts’ expectations of $2.93 by $0.02. The company demonstrated a robust performance with a net margin of 21.71% and a return on equity of 38.60%. Revenue for the quarter reached $771.33 million, significantly surpassing the anticipated $745.96 million.
Compared to the same quarter in the previous year, Waters’ earnings per share increased from $2.63, reflecting an 8.8% rise in revenue.
Analysts’ Ratings and Institutional Investments
A recent assessment by various brokerages indicates a mix of opinions regarding Waters’ stock. Bank of America raised its target price from $370.00 to $375.00 and assigned a “neutral” rating. Conversely, Barclays reduced its target price from $400.00 to $350.00, maintaining an “equal weight” rating. Deutsche Bank Aktiengesellschaft set a target price of $315.00 with a “hold” rating, while Robert W. Baird decreased its target from $374.00 to $352.00 and retained an “outperform” rating.
Overall, ten investment analysts have rated Waters with a “hold” rating, five have issued a “buy” rating, and one analyst has designated the stock as a “strong buy.” The consensus rating stands at “Hold,” with an average price target of $378.73.
As for the stock’s performance, Waters opened at $277.75 and has experienced a twelve-month low of $276.00 and a high of $423.56. The company currently maintains a market capitalization of $16.53 billion, with a price-to-earnings ratio of 25.05.
Institutional investors have shown considerable interest in Waters stock. Notable activities include Brighton Jones LLC increasing its stake by 112.9% in the fourth quarter, and Wells Fargo & Company MN boosting its holdings by 6.9%. Envestnet Asset Management Inc. and Russell Investments Group Ltd. also expanded their shares, reflecting the strong institutional confidence in Waters. As it stands, institutional and hedge fund investors own 94.01% of the company’s stock.
Waters Corporation specializes in providing analytical workflow solutions across Asia, the Americas, and Europe. The company operates through two segments, focusing on high and ultra-performance liquid chromatography and mass spectrometry technologies.