2024-04-27 12:08:00 ET
Summary
- Danaher Corporation's core sales growth rate is expected to turn positive as 2024 progresses.
- Margins are expected to improve with easing comparisons, cost-cutting, and operating leverage as sales recover.
- Valuation is reasonable on FY25 and FY26 consensus earnings estimates.
Investment Thesis
Danaher Corporation’s ( DHR ) core sales growth rate is expected to turn positive as 2024 progresses, with customer inventory destocking ending by the second half of 2024 in the bioprocessing business and improving order trends in the Biotechnology and Life Sciences segments. Further, the strength in the Diagnostics segment and easier Chinese business sales comparisons in 2H 2024 should support the company's revenue growth in the coming quarters....
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Danaher Corporation: A Good Medium Term Bet