TD Cowen Raises Waters (WAT) Price Target to $515

TD Cowen has reiterated its Buy rating on Waters Corporation (NYSE: WAT) on October 13, 2026, raising the price target to $515 from $475. This adjustment reflects the firm's continued confidence in the company's prospects within the diagnostics and research sector.

Other Institutional Activity in Waters Corporation

Blackrock Inc. reduced its stake in Waters Corporation by 58,093 shares, ending with 8,484,939 shares worth about $3.71 billion. Vanguard Capital Management LLC added 36,996 shares, bringing its total to 6,415,552 shares valued at approximately $2.80 billion. Vanguard Portfolio Management LLC decreased its holdings by 13,788 shares to a total of 4,740,524 shares worth around $2.07 billion. Massachusetts Financial Services Co. trimmed its position by 5,093 shares, holding 4,625,035 shares valued at about $2.02 billion. State Street Corporation increased its stake by 20,065 shares, totaling 4,382,008 shares worth approximately $1.91 billion.

Waters Corporation Stock Down 2.4%

As of October 16, 2026, Waters Corporation's shares are trading at $433.35, which is about 15.9% below the new target set by TD Cowen. This price point suggests potential for growth if the stock approaches the target in the coming months.

Recent Earnings

Waters Corporation reported trailing twelve-month revenue of $4.64 billion and an earnings per share (EPS) of $3.94. The company has achieved a year-over-year revenue growth of 113.4% and a net margin of 3.6%. The next earnings report is scheduled for October 30, 2026.

Insider Buying and Selling at Waters Corporation

Several insiders have made transactions in recent months. Director Richard H. Fearon bought 1,000 shares on March 6, 2026, at an average price of $306.34, totaling about $306,340. Another director, Wei Jiang, purchased 500 shares on March 16, 2026, for approximately $144,730 at an average price of $289.46. However, Christopher A. Kuebler, also a director, sold 3,626 shares on August 6, 2026, at an average price of $397.94, valued at around $1.44 million.

Analysts Set New Price Targets

On October 13, 2026, TD Cowen maintained its Buy rating for Waters Corporation with a new price target of $515, up from $475. Earlier, UBS upgraded the stock to Buy with a target of $490 on September 9, 2026. Goldman Sachs also maintained a Buy rating with a target of $515 on September 21, 2026, while Guggenheim and Barclays kept their Buy and Overweight ratings, respectively, with targets of $490 and $500.

About Waters Corporation

Waters Corporation focuses on providing analytical workflow solutions across Asia, the Americas, and Europe. The company specializes in liquid chromatography and mass spectrometry systems, which are vital for various research and diagnostics applications.

Bottom Line

Investors should keep an eye on Waters Corporation as it approaches its next earnings date on October 30, 2026. With TD Cowen's recent price target increase, the stock's performance in the near future will be of interest, particularly as analysts remain positive on its outlook.