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Danaher Corp DHR

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Danaher Delivers Strong First Quarter With Help From COVID-19 Tailwinds; Shares Still Overvalued

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

As highlighted in its recent preliminary sales announcement, narrow-moat Danaher's momentum continued in the first quarter, with the firm reporting strong top- and bottom-line results that topped management's outlook and market consensus for the quarter. Even after boosting our estimates for 2021 and 2022, our fair value estimate (that we just raised in January) has not changed materially, and we still view the shares as overvalued. 

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Company Profile

Business Description

In 1984, Danaher’s founders transformed a real estate organization into an industrial-focused manufacturing company. Through a series of mergers, acquisitions, and divestitures, including the Fortive separation in 2016, Danaher now focuses primarily on manufacturing scientific instruments and consumables in three segments: life sciences, diagnostics, and environmental and applied solutions. In late 2019, Danaher separated from its dental business through an initial public offering process, and in early 2020, it acquired GE’s Biopharma business, now called Cytiva, which added to its life sciences segment.

Contact
2200 Pennsylvania Avenue, North West, Suite 800W
Washington, DC, 20037-1701
T +1 202 828-0850
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Aggressive Growth
Employees 69,000

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