Waters Corporation (NYSE: WAT) saw its stock price plummet by 5.05% during Tuesday's intraday trading session following the release of its first-quarter 2025 financial results. The company's performance, while showing some positive aspects, fell short of market expectations in key areas, leading to a significant sell-off.

Waters reported first-quarter sales of $662 million, surpassing analyst estimates of $654.8 million. However, the company's GAAP earnings per share (EPS) of $2.03 slightly missed the expected $2.06. Although the adjusted EPS of $2.25 beat the consensus estimate of $2.22, investors seemed to focus on the GAAP earnings miss and other concerning factors.

Adding to the downward pressure, several analysts lowered their price targets for Waters stock. Evercore ISI adjusted its target to $360 from $380, while Nephron Research lowered its target to $425 from $440. These revisions, coupled with the company's guidance for the rest of the year, appear to have spooked investors. Waters now projects full-year adjusted EPS in the range of $12.75 to $13.05, which may be viewed as conservative by some market participants. The company also faces challenges from tariffs, although executives stated they plan to limit the net impact to $10 million on the 2025 adjusted operating margin through various mitigation strategies.