Danaher returns a key business to growth, and we're raising our stock rating back to buy

Danaher shares declined Tuesday despite the life sciences company returning its key bioprocessing business to growth in the third quarter. Danaher's revenue for the three months ended Sept. 27 advanced 3% year over year on a reported basis, to $5.8 billion, outpacing the LSEG consensus estimate of $5.59 billion. On an organic basis, sales were up 0.5%. Adjusted earnings per share decreased 0.6% annually to $1.71 but still topped the $1.57 per share that had been expected.

Commentary Biotechnology segment sales in Q3 dipped 0.7% on a core basis to $1.65 billion but exceeded estimates. Bioprocessing realized low-single-digit growth in the quarter. Bioprocessing has been under pressure in recent quarters due to a lack of funding for smaller businesses after the collapse of Silicon Valley Bank in early 2023 and destocking from larger customers coming out of the Covid pandemic.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

CNBC Investing Club Recap: Wall Street Mixed, Nvidia Rallies, Micron Earnings AheadWall Street saw mixed performance on Wednesday, with the S&P 500 hovering near flat. Despite downgrades and market overbought conditions, Nvidia shares surged after a Barron's report on CEO stock trades. The club trimmed Meta Platforms, Danaher, and Alphabet holdings. Micron reports earnings tonight, offering insights into consumer electronics demand and AI chip inventory.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »