On August 5, Danaher rose 3.23% in regular trading, trading at $200.985/share, with turnover of $252 million. The stock gained momentum following a leadership transition announcement and supportive analyst coverage.
On August 3, Danaher's board appointed Julie Sawyer Montgomery as President and CEO effective October 1, succeeding retiring CEO Rainer Blair. Montgomery becomes the first female CEO in the company's 40-year history and the fifth CEO transition overall. Meanwhile, Barclays maintained its Buy rating and $230 price target on Danaher, signaling confidence in the company's outlook even as multiple institutions had recently lowered their targets following Q2 earnings.
For context, Danaher reported Q2 adjusted EPS of $1.94, beating estimates of $1.83, with revenue of $6.27 billion surpassing the $6.11 billion consensus. However, the stock had previously sold off on weaker Q3 growth guidance of 2%-3% core revenue growth. The company raised full-year adjusted EPS guidance to $8.45-$8.60. Morgan Stanley recently cut its target to $220 from $255 while maintaining an Overweight rating, and Evercore ISI lowered its target to $205 from $230.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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