Danaher Corporation (NYSE:DHR) communicated yesterday that its fourth-quarter 2019 results will likely be better than previously expected. The announcement was made by Thomas P. Joyce, Jr., the company’s president and chief executive officer, at a healthcare conference.
The news seems to have lifted market sentiments, contributing to yesterday’s share price increase of 1.14%. The trading session ended, with the share price at $161.39.
Inside the Headlines
As noted, healthy performances of the Life Sciences and Diagnostics segments will likely drive fourth-quarter 2019 organic sales growth above the previous expectation of 4.5%. Also, the company expects the quarter’s adjusted earnings per share to either meet or exceed the higher end of $1.32-$1.35 mentioned earlier.
Notably, the Life Sciences and Diagnostics segments generated roughly 65% of Danaher’s total revenues of $5,037.3 million in the third quarter of 2019.
The Zacks Consensus Estimate for fourth-quarter revenues and earnings are pegged at $5.28 billion and $1.25 per share, suggesting declines of 1.6% and 2.3% from the year-ago reported figures, respectively. Also, in the past 60 days, earnings estimates of $1.25 have been revised down by 6%.
Notably, Danaher will release fourth-quarter 2019 results before the market opens on Jan 30, 2020.
Zacks Rank, Earnings Estimate Trend and Price Performance
With a market capitalization of $114.6 billion, the company currently carries a Zacks Rank #3 (Hold). Over the past 60 days, the Zacks Consensus Estimate for earnings has decreased 3.8% to $4.57 for 2019 and 3% to $5.41 for 2020.
Danaher Corporation Price and Consensus
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