Is Wall Street Bullish or Bearish on Waters Corporation Stock?

With a market cap of $40.7 billion, Waters Corporation (WAT) is a global leader in life sciences and diagnostics, providing analytical technologies, informatics, and services that support drug development, food and water safety, and improved patient outcomes. With deep expertise across chemistry, physics, and biology, its approximately 16,000 employees help customers turn complex scientific challenges into breakthroughs worldwide.

Shares of the Milford, Massachusetts-based company have surpassed the broader market over the past 52 weeks. WAT stock has climbed nearly 43% over this time frame, while the broader S&P 500 Index ($SPX) has gained 19.3%. However, the stock has risen 10.9% on a YTD basis, lagging behind SPX's 12.9% return.

Looking closer, shares of the lab equipment maker have also exceeded the State Street Health Care Select Sector SPDR ETF's (XLV) 25.3% increase over the past 52 weeks.

Waters Corporation shares rose 5.7% on Aug. 4 after the company reported better-than-expected Q2 2026 adjusted EPS of $3.05 and revenue of $1.65 billion, driven by strong demand for lab equipment and testing supplies. Growth was broad-based, with laboratory instrument sales up 5% to $240 million, chemicals and routine testing supplies posting double-digit growth, and the newly acquired biosciences and diagnostics businesses generating $817 million, up 4%. Investor sentiment was further boosted by raised fiscal 2026 guidance for adjusted EPS to $14.45 - $14.65 and revenue to $6.42 billion - $6.48 billion.

For the fiscal year ending in December 2026, analysts expect Waters Corporation’s adjusted EPS to grow 10.9% year-over-year to $14.56. The company's earnings surprise history is promising. It topped the consensus estimates in each of the last four quarters.

Among the 23 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 14 “Strong Buy” ratings, one “Moderate Buy,” and eight “Holds.”

This configuration is more bullish than three months ago, with 12 “Strong Buy” ratings on the stock.

On Aug. 5, Barclays analyst Luke Sergott raised its Waters Corporation price target to $460 and maintained an “Overweight” rating.

The mean price target of $438.43 represents a 4.1% premium to WAT’s current price levels. The Street-high price target of $475 suggests a 12.8% potential upside.