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Based in Washington, the District of Columbia, Danaher Corporation (DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. Valued at $177.21 billion by market cap, the company offers a wide range of testing instruments, reagents and mass spectrometry, life science research tools, professional microscopes, filtration and flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization businesses. The life sciences and diagnostics innovator is expected to announce its fiscal second-quarter earnings for 2024 before the market opens on Tuesday, July 23.
Ahead of the event, analysts expect DHR to report a profit of $1.58 per share on a diluted basis, down 22.9% from $2.05 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For fiscal 2024, analysts expect DHR to report EPS of $7.63, up marginally from $7.58 in fiscal 2023.
DHR stock has underperformed the S&P 500’s ($SPX) 26.8% gains over the past 52 weeks, with shares up 16% during this period. However, it has outperformed the S&P 500 Healthcare Sector SPDR’s (XLV) 12.1% return over the same time frame.
On Apr. 23, DHR shares closed up more than 7% after the company reported its Q1 results. Its sales of $5.80 billion were stronger than the consensus of $5.62 billion. The company’s adjusted EPS stood at $1.92, surpassing the Wall Street estimates of $1.72. For the second quarter, DHR forecasts that non-GAAP core revenue will be down mid-single digits year over year and expects full-year non-GAAP core revenue to be down low-single digits year over year. DHR shares have been on a downtrend since the results were released.
Analysts’ consensus opinion on DHR stock is bullish, with a “Moderate Buy” rating overall. Out of 20 analysts covering the stock, 12 advise a “Strong Buy” rating, two have a “Moderate Buy” rating, and six recommend a “Hold” rating. The average analyst price target for DHR is $277.83, indicating a 16.1% potential upside from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
