What to expect from Danaher’s next quarterly financial results…

Headquartered in Washington, District of Columbia, Danaher Corporation (DHR) designs, manufactures and sells professional, medical, industrial and commercial products and services. Valued at $177.21 billion at market capitalization, the company offers a broad range of test instruments, reagents and mass spectrometry, life sciences research tools, professional microscopes, filtration and flow cytometry, genomics, laboratory automation, centrifugation, particle counting and characterization. The life sciences and diagnostics innovator is expected to report its fiscal second quarter 2024 earnings before the market opens on Tuesday, July 23.

Ahead of the event, analysts expect DHR to report earnings 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 topped Wall Street earnings per share estimates in its last four quarterly reports.

For fiscal 2024, analysts forecast DHR will post earnings per share of $7.63, up slightly from $7.58 in fiscal 2023.

DHR stock has underperformed the S&P 500 ($SPX)’s gain of 26.8% over the past 52 weeks, while the stock is up 16% in that time frame. However, it has outperformed the S&P 500 Healthcare Sector SPDR (XLV)’s gain of 12.1% in the same period.

On April 23, DHR shares closed up more than 7% after the company reported first-quarter results. Sales of $5.80 billion topped the consensus of $5.62 billion. The company’s adjusted earnings per share came in at $1.92, topping Wall Street estimates of $1.72. For the second quarter, DHR forecasts non-GAAP core revenue to decline by mid-single digits year over year and expects full-year non-GAAP core revenue to decline by low-single digits year over year. DHR shares have been down since the results were released.

Analysts are unanimous in calling DHR stock bullish, with an overall rating of “Moderate Buy.” Of the 20 analysts covering the stock, 12 recommend 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 current levels.

On the date of publication, Dipanjan Banchur did not hold (directly or indirectly) a position in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please refer to Barchart’s Disclosure Policy here.