Waters Corporation (WAT) is a leading scientific instruments company that designs, manufactures, and markets advanced analytical technologies, including high-performance liquid chromatography, mass spectrometry, thermal analysis, rheometry, and related software and consumables used in laboratory research, quality assurance, and industrial applications across life sciences, pharmaceutical, food safety, environmental, and academic sectors. Headquartered in Milford, Massachusetts, Waters has built a global presence with facilities and customers around the world. The company has a market cap of $28.9 billion.
Companies with valuations of $10 billion or more are generally categorized as “large-cap stocks,” and WAT clearly falls into this group, with a market cap well above that benchmark, highlighting its scale, market influence, and leadership in the diagnostics and research sector. The company stands out for its strong scientific foundation and enduring leadership in critical technologies like liquid chromatography and mass spectrometry.
The stock is currently trading 28.8% below its 52-week high of $414.15, reached on Nov. 25. Shares have slumped 21.6% over the past three months, considerably underperforming the Dow Jones Industrial Average’s ($DOWI) 3.6% decline during the same time frame.
In the longer term, WAT has declined 22.8% over the past 52 weeks, lagging behind DOWI’s 11.2% uptick over the same time frame. Moreover, on a YTD basis, shares of Waters are down 22.3%, compared to DOWI’s 3.8% plunge.
To confirm its recent bearish trend, WAT has been trading below its 50-day and 200-day moving averages since early February.
Shares of Waters Corporation have declined in 2026 despite solid fourth-quarter results, as investors focused on softer near-term guidance and rising uncertainty around growth. In Q4 2025, the company reported revenue of about $932 million, up roughly 7% year-over-year (YOY), while adjusted EPS rose about 10% YOY to $4.53. However, sentiment turned negative after management issued cautious first-quarter 2026 guidance, projecting adjusted EPS of $2.25 to $2.35.
Additionally, its large acquisition of Becton Dickinson’s biosciences and diagnostics unit has weighed on sentiment, as the acquired business is underperforming and expected to see a short-term revenue decline, raising integration and execution risks.
On the other hand, WAT has lagged its rival, Agilent Technologies, Inc.’s (A) 9.4% decline over the past 52 weeks and 18.1% slump on a YTD basis.
The stock has a consensus rating of “Moderate Buy” from the 20 analysts covering it, and the mean price target of $401.25 suggests a 36% premium to its current price levels.
On the date of publication, Subhasree Kar did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
