Shares of healthcare major Danaher (NYSE:DHR) are under pressure today after the company’s financial outlook for the fourth quarter disappointed investors.
The company expects revenue in the fourth quarter to decline by a low double-digit percentage compared to the prior year. While Danaher expects its non-GAAP core revenue for the quarter to decrease by low-double-digits, the estimate is better than its earlier guidance of a decline in the high teens.
Danaher is slated to announce its fourth-quarter results on January 30. Analysts expect the company to post an EPS of $1.88 on revenue of $5.96 billion for the quarter. In the comparable year-ago period, its EPS of $2.54 was better than expected by $0.28. Further insights on the company’s business trajectory can be expected at its presentation at the J.P. Morgan Healthcare Conference at 2:15 p.m. today.
Is DHR a Good Stock to Buy?
Overall, the Street has a Moderate Buy consensus rating on Danaher. Following a nearly 13% rise in the company’s share price over the past six months, the average DHR price target of $232 implies a potential downside of 1.2% in the stock.
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