Danaher Dips: Four-Day Slide Hits Yearly Low Amid Revenue Concerns
1min read On October 24, Danaher (DHR) experienced a 3.13% drop, marking its fourth consecutive day of decline, amounting to a 9.61% decrease over this period. The intraday low hit the lowest point since July 2024.
The finance report revealed that by September 27, 2024, Danaher's total revenue stood at $173.37 billion, representing a year-over-year decrease of 0.85%. The net income attributable to shareholders dropped by 23.66% to $28.13 billion.
Significant movements include a recent adjustment on October 23, when Robert W. Baird lowered Danaher's price target to $277, while rating it as "Outperform." On the same date, Raymond James upheld the rating of "Outperform" with a target price of $300.00.
In its third-quarter report released on October 22, Danaher's revenue was $173.37 billion, and net profits were pinned at $28.13 billion, with basic earnings per share reaching $3.83. Founded as DMG in 1969, Danaher designs, manufactures, and sells specialized products and services spanning medical, industrial, and commercial sectors. These products are distinguished by their strong brand names, innovative technology, and prominent market positions.
The company's operations are diversified across five segments: Test and Measurement, Environmental, Life Sciences and Diagnostics, Dental, and Industrial Technologies. Danaher's facilities for R&D, manufacturing, sales, distribution, service, and management span over 60 countries globally.
In the first three fiscal quarters of 2024, revenue was reported at $173.37 billion compared to $174.85 billion the previous year, indicating a slight dip of 0.85%. The cumulative net income saw a more pronounced 23.66% decrease from $36.85 billion to $28.13 billion. Basic earnings per share have also declined from $4.98 to $3.83 year-over-year.
