Waters Corp (WAT)

• Market cap: $21B
• 1 day: -0.10%
• 5 days: 1.05%
• 1 month: 1.98%
• 3 months: 8.51%
• 6 months: -11.74%
• Year to date: -4.17%
• 1 year: 17.06%
• 5 years: 82.60%
• 10 years: 172.08%
• Sector: Healthcare
• Industry: Diagnostics & Research

About: Water sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. As a percentage of sales in 2024, Waters generated 58% from biopharmaceutical customers, 31% from industrial clients, and 11% from academic/government institutions.

Employees: 7,600

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

185% more call options, than puts

Call options by funds: $33.4M | Put options by funds: $11.7M

33% more funds holding in top 10

Funds holding in top 10: 6 [Q4 2024] → 8 (+2) [Q1 2025]

24% more first-time investments, than exits

New positions opened: 77 | Existing positions closed: 62

6% more repeat investments, than reductions

Existing positions increased: 277 | Existing positions reduced: 261

0% more funds holding

Funds holding: 745 [Q4 2024] → 747 (+2) [Q1 2025]

0.57% less ownership

Funds ownership: 95.91% [Q4 2024] → 95.34% (-0.57%) [Q1 2025]

1% less capital invested

Capital invested by funds: $21.1B [Q4 2024] → $20.9B (-$271M) [Q1 2025]

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $360 2% upside
• Avg. target: $370 5% upside
• High target: $375 6% upside

3 analyst ratings

• positive: 1 33%
• neutral: 2 67%
• negative: 0 0%

B of A Securities Derik De Bruin	6% upside $375	Neutral Maintained	26 Jun 2025
Baird Catherine Ramsey	6% upside $374	Outperform Maintained	7 May 2025
UBS Elizabeth Garcia	2% upside $360	Neutral Maintained	7 May 2025