Danaher rises on Street-beating Q2

Danaher (NYSE:DHR) shares got a boost today on second-quarter results that came in well ahead of the consensus forecast.

Shares of DHR were up 7.7% at $275.61 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1.3%.

The Washington, D.C.-based company posted profits of $1.7 billion, or $2.25 per share, on sales of $7.8 million for the three months ended July 1, 2022, for a 4.9% bottom-line slide on sales growth of 7.4%.

Adjusted to exclude one-time items, earnings per share were $2.76, 41¢ ahead of Wall Street, where analysts were looking for sales of $7.3 billion.

“We are pleased with our strong start to 2022,” Danaher President and CEO Rainer M. Blair said in a news release. “Our teams executed well in a challenging environment to deliver high-single-digit core revenue growth, double-digit adjusted earnings per share …

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Danaher beats The Street in Q1

Danaher (NYSE:DHR) shares dipped slightly today on first-quarter results that came in ahead of the consensus forecast.

The Washington, D.C.-based company posted profits of $1.7 billion, or $2.31 per share, on sales of $7.7 billion for the three months ended April 1, 2022, for a 1.3% bottom-line gain on sales growth of 12.1%.

Adjusted to exclude one-time items, earnings per share were $2.76, 10¢ ahead of Wall Street, where analysts were looking for sales of $7.5 billion.

“We had a good start to the year with results exceeding our initial expectations,” Danaher President and CEO Rainer M. Blair said in a news release. “Our team successfully navigated a dynamic environment to deliver double-digit core revenue growth, approximately 10% adjusted earnings per share growth and $2.0 billion of operating cash flow, despite difficult prior-year comparisons.

“This performance was broad-based with all three of our segments delivering high-si…

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Danaher announces executive changes

Danaher (NYSE:DHR) yesterday announced a number of personnel moves among executives at the company.

SVP & chief accounting officer Robert S. Lutz notified the company that he will step down from his position as of Jan. 1, 2022, with Cristopher M. Bouda set to succeed him. Bouda has served as Danaher’s VP of finance since joining in August 2016.

According to a news release, after his departure from the roles on Jan. 1, 2022, Lutz is expected to continue performing services to Danaher on a part-time basis.

In connection with Bouda’s promotion, his annual base salary will increase to $475,000 with a 2022 annual cash incentive compensation award opportunity under the company’s 2007 Omnibus Incentive Plan based on a target percentage of 60%. Bouda will also receive a 2022 annual equity award under the plan with a target award value of $500,000, split evenly between stock options and time-vested restricted stock units.

Additionally…

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Danaher rises on Street-beating Q2

Danaher (NYSE:DHR) shares ticked up today on second-quarter results that beat the consensus forecast.

The Washington, D.C.-based company posted profits of $1.7 billion, or $2.40 per share, on sales of $7.2 billion for the three months ended July 2, 2021, for a 95.5% bottom-line gain on sales growth of 36.3%.

Adjusted to exclude one-time items, earnings per share were $2.46, 41¢ ahead of Wall Street, where analysts were looking for sales of $6.7 billion.

“Broad-based strength across the portfolio helped us deliver over 30% core revenue growth and outstanding earnings per share growth and cash flow generation,” Danaher president & CEO Rainer M. Blair said in a news release. “We continued to make significant growth investments during the quarter, strengthening our organic growth trajectory and enhancing our portfolio with the announcement of our pending acquisition of Aldevron.

“We believe the combination of our leading portfolio and …

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Danaher ticks up on Street-beating Q1

Danaher (NYSE:DHR) shares rose before hours on first-quarter results that easily toppled the consensus forecast.

The Washington, D.C.-based company posted profits of $1.7 billion, or $2.29 per share, on sales of $6.9 billion for the three months ended April 2, 2021, nearly tripling its bottom-line on sales growth of 57.9%.

Adjusted to exclude one-time items, earnings per share were $2.52, 77¢ ahead of Wall Street, where analysts were looking for sales of $6.3 billion.

“We had a very strong start to the year, delivering better-than-expected first-quarter results across our portfolio,” Danaher president & CEO Rainer M. Blair said in a news release. “This broad-based outperformance was driven by double-digit core revenue growth in our base business, and our ongoing contributions to the development and production of COVID-19 vaccines, therapeutics and diagnostic tests.

“Our record top-line performance contributed to strong earnin…

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3M, Abbott in top 50 of Fortune’s most admired companies list

[Photo by Guillermo Latorre on Unsplash]Medtech giants  3M (NYSE:MMM) and Abbott (NYSE:ABT) made it into the top 50 of Fortune‘s 2021 World’s Most Admired Companies list.

3M — a manufacturing conglomerate that also has one of the largest medical device businesses in the world — came in at No. 24, up from No. 29 in the 2020 list. Abbott meanwhile was No. 42, up from No. 52.

Both companies have been playing important roles in efforts to manage the COVID-19 pandemic.

3M is an important supplier of N95 masks and other protective gear for healthcare and other essential workers.

Abbott in early 2020 developed three molecular diagnostic tests for the SARS-CoV-2 virus within a 30-day time span. By the late summer, it won an FDA emergency use authorization in the late summer for its speedy BinaxNow COVID-19 Ag Card antigen test.

Other medical device companies making it into the Fortune most admired companies list include Boston Scientific (…

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Danaher rises on Street-beating Q4

Danaher (NYSE:DHR) shares ticked up this morning on fourth-quarter results that topped the consensus forecast.

The Washington, D.C.-based company posted profits of $1.2 billion, or $1.66 per share, on sales of $6.8 billion for the three months ended Dec. 31, 2020, for a -4.8% bottom-line slide on sales growth of 38.9%.

Adjusted to exclude one-time items, earnings per share were $2.08, 21¢ ahead of Wall Street, where analysts were looking for sales of $6.5 billion.

Danaher’s life sciences segment posted revenue totaling $3.4 billion (75.4% growth from Q4 2019), while its diagnostics arm registered sales of $2.2 billion (23.4% growth year-over-year).

The company’s growth also included contributions from Cytiva, which is the biopharma business (formerly GE Healthcare Life Sciences) acquired by Danaher in April.

“For the full year 2020, we achieved nearly 10% core revenue growth including Cytiva, strong margin expansion, and more than …
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