Danaher has been a growth stock and continues to burn rubber. Its share price shot up nearly 200% over the past three years, to 289.33 Wednesday, up 0.7% for the day. Also on Wednesday, the IBD SmartSelect Composite Rating for Danaher stock jumped to a near-perfect 96, up from 94 the day before.
The revised score means Danaher stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.
Danaher makes and sells a wide variety of medical, industrial and commercial products worldwide. Among them are consumer packaging, water purification and medical research equipment.
Danaher Stock Up On Strong Profit, Sales Growth
In Q4, the company reported 29% higher earnings on a year-over-year basis, to $2.69 per share. EPS the prior three periods rose 174%, 71% and 39%. Revenue grew 21% to $8.15 billion last quarter, continuing a string of double-digit quarterly sales growth ranging up to 58% over the past year. The company will hold a news conference to discuss its first quarter earnings results the morning of April 21.
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Danaher stock is currently forming a consolidation, with a 334.06 entry. Look for the stock to break out in heavy trade at least 40% higher than normal.
Danaher stock earns a 92 EPS Rating, which means its recent quarterly and annual earnings growth tops 92% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
Danaher stock earns the No. 2 rank among its peers in the Medical-Diversified industry group. AstraZeneca is the top-ranked stock within the group.
