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Waters Corporation (WAT)

NYSE - Nasdaq Real-time price. Currency in USD
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328.58+7.14 (+2.22%)
At close: 04:04PM EDT
328.58 0.00 (0.00%)
After hours: 05:00PM EDT
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  • L
    Lovetta
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  • S
    Stockguru
    Wow it’s getting hammers pre-market down $32. Buying opportunity?
  • H
    Hippo
    So the CEO is voted out. What a disaster for a company already starved of new product and innovation. Competition will feast on this.
  • B
    Ben
    WAT has ~15% of its total sales in China. Coronavirus outbreak will hurt business in China. Got out of WAT before it is too late.
  • a
    alan
    Will new emphasis on using messenger RNA fragments in health help Waters, with its sales more oriented to smaller molecules?
  • G
    Galactus
    $OCGN conversation
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  • N
    Norte
    Will there ever be a stock split in the future with Waters?
  • B
    Ben
    WAT is approaching $200/share again. In the current environment, $200 should be a pretty strong resistance level for WAT. My recommendation is to take the profits right now, wait on the sidelines, and wait for its upcoming quarterly earning results to decide whether to take a position (long or short) on this stock.
  • B
    Ben
    WAT has completed its $2.5 billion stock buyback program in 2019 (its biggest ever buy-back). Now, its Debt/EBITDA ratio is ~2.0. In 2020, even if WAT wants to buyback stock, it can probably only afford to buy back ~$500 million.
    WAT's earning has not been growing. Without the big buyback supporting its stock price, WAT is likely to fall below $200 / share in 2020.
  • B
    Ben
    WAT is attempting to make a big move up today. Probably some short squeeze. Significant resistance at $208 (50 day moving average). So, the stock is likely to be trading in the range of $180-$205 in the next 30 days.
  • A
    Anonymous
    Expecting this to be @ $250 - $270 a share by the ides of March.
  • G
    Geronimo
    Recent bylaw amendments "supplement the proxy access provisions to (a) require a representation that no proxy access nominee is holding securities of the Company with the intent to change or influence control of the Company". Now why would they go and do a thing like that?
  • B
    Ben
    WAT is very exposed to Asia, as its sales in Asia is even larger than its sales in the US. This uses to be a "good thing", but in 2020, with China Pharma struggling, it is now a headwind.
  • B
    Ben
    Yesterday, WAT's 2020 guidance was below consensus. In particular, the revenue growth (a number, unlike "adjusted earning", is less subject to manipulation) is only 1%-3% (midpoint 2%). That is awful for a stock with high PE!
    WAT indeed bounced off its support to close @$219. The company still has ~$100 million / quarter of stock buyback plan in place to support its stock price, so I suspect WAT will hang around $220-$225 for a while.
  • B
    Ben
    High-probability events: (my guess, based on historical experience, only time will tell).
    1) WAT will report a very poor Q2 earning. (The CFO will throw out all the hidden garbage on its financial book).
    2) WAT stock will therefore take a dive.
    3) New CEO will be announced
    4) During the transition period (O'Connell to the new CEO, which is the 2H of 2020), more poor results will be reported, as the new CEO will clear out all the garbage before he/she fully takes over.
    5) In Q1 2021, WAT stock hits its 12 month-low. Then, WAT will slowly move upwards, to benefit the new CEO (as his/her stock options are linked with the price gains in his/her era ONLY).
  • B
    Ben
    WAT indeed plunged in the last few days. For traders, I would suggest that not to buy until WAT drops to $218 support level. Then, it might be worthwhile to do a trade to catch a short-term bounce. Nevertheless, this stock's overall trend is down.
  • B
    Ben
    Wow. Trading below $190! Looks like WAT plans to "kitchen-sink" the Q1 2020 results, trying to find a bottom for its stock price, then build a base for the stock for the rest of the year.
  • B
    Ben
    My take on WAT Q3 results:
    1) Big miss on sales: Very bad news.
    Even worse is that the geographically, the sales miss is due to weakness in the US, the home country. Instead, China/Asia held up relatively well.
    2) Earning meet -- no big deal, every CFO has a few accounting tricks to manipulate earnings for a quarter or two...
    3) Lowered FY outlook. Now WAT basically has NO Growth in 2019 (vs 2018)! That is horrible.

    Lastly, the company repurchased another $0.5 billion of its own shares in Q3. Given its latest balance sheet, the company's stock repurchase program, which provided significant support to its stock price, will be winding down significantly (probably to ~$150 million/quarter). That is another negative sign.