Granite Investment Partners LLC Takes Position in Waters Corporation $WAT

Granite Investment Partners LLC acquired a new position in Waters Corporation (NYSE:WAT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,406 shares of the medical instruments supplier’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in Waters by 63.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 223,324 shares of the medical instruments supplier’s stock valued at $66,506,000 after buying an additional 87,057 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in Waters by 62.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 31,097 shares of the medical instruments supplier’s stock valued at $9,235,000 after buying an additional 11,967 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich boosted its holdings in Waters by 482.8% in the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 65,019 shares of the medical instruments supplier’s stock worth $19,363,000 after acquiring an additional 53,862 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Waters by 65.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,266 shares of the medical instruments supplier’s stock worth $3,355,000 after acquiring an additional 4,446 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in shares of Waters by 62.8% during the first quarter. Frank Rimerman Advisors LLC now owns 1,050 shares of the medical instruments supplier’s stock worth $313,000 after acquiring an additional 405 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Performance

WAT opened at $377.42 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. Waters Corporation has a 12-month low of $275.05 and a 12-month high of $414.15. The firm has a 50 day moving average of $357.09 and a two-hundred day moving average of $346.69. The firm has a market capitalization of $37.06 billion, a PE ratio of 47.96, a P/E/G ratio of 2.23 and a beta of 1.20.

Waters (NYSE:WAT) last released its quarterly earnings data on Tuesday, May 5th. The medical instruments supplier reported $2.70 EPS for the quarter, beating the consensus estimate of $2.31 by $0.39. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.20 billion. Waters had a net margin of 11.91% and a return on equity of 15.60%. The business’s revenue for the quarter was up 91.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 EPS. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. On average, analysts anticipate that Waters Corporation will post 14.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird set a $387.00 price objective on shares of Waters in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Waters from $330.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Barclays boosted their target price on shares of Waters from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler began coverage on shares of Waters in a research note on Thursday, June 11th. They set a “neutral” rating and a $400.00 price target on the stock. Finally, HSBC raised their price target on shares of Waters from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $403.60.

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.