Danaher Corp. (NYSE: DHR) is a specialist medical company that develops diagnostic, life sciences, environmental, and applied solutions. The company is particularly well-known for its development of advanced research tools which are used to develop drugs, vaccines, and novel therapies. Danaher is a major producer of medical instruments, consumables, and software.
The impact of the Coronavirus Pandemic has limited general spending in the medical industry, with the focus being applied to treating, containing, and now vaccinating against the virus. The landscape is now changing, with spending on general research and testing tools likely to increase. Danaher’s earnings are expected to grow by at least 18.9% over the current fiscal year. Long term, the company is expected to grow at an average rate of up to 14% per year, compared to an average of 10% across the S&P 500.
Strong earnings projections have created momentum for this stock. Analysts are confident with BUY ratings from most top firms. The current average target price of $268.59 suggests strong upsides for new investors. Danaher stock also produces a modest dividend yield of 0.37%, making it a viable income pick for larger investments.
Key Data:
- 1 Year Price Growth: 96%
- YTD Price Growth: 59%
- 3 Month Price Growth: 30%
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