Better Than The Berkshire Hathaway? Danaher's Value
Chris DeMuth Jr. • 71 Comments
Chris DeMuth Jr. • 71 Comments
Thu, Oct. 20, 6:01 AM
Wed, Oct. 19, 5:30 PM
Wed, Oct. 12, 11:45 AM
- Danaher (DHR +0.9%) is higher after agreeing to acquire Phenomenex, a privately held manufacturer and distributor of high-value consumables for the separation sciences.
- The terms were not disclosed, but Evercore ISI analyst Ross Muken estimates DHR paid more than $700M for the company, including probable tax benefits.
- Phenomenex revenues of ~200M gives it an enterprise value to revenue multiple of ~3.5x and an EV to EBITDA multiple in the low to mid-teens, which implies an return on invested capital of more than 10% by the fifth year, “making this tuck-in fit within the traditional framework of DHR.” Muken says.
Tue, Sep. 13, 4:29 PM
Tue, Sep. 6, 7:05 AM
- Danaher (NYSE:DHR) inks a deal with Cepheid (NASDAQ:CPHD) to acquire all the outstanding stock of the molecular diagnostics firm for $53 a share in cash (~$4B including debt less acquired cash). The transaction should close in Q4.
- Danaher is a conglomerate of over 20 businesses that are managed under the auspices of the Danaher Business System. Its Life Sciences & Diagnostics segment includes Beckman Coulter, HemoCure, Leica Biosystems, Leica Microsystems, Molecular Devices, Pall, Radiometer and SCIEX.
- CPHD is up 53% premarket on light volume.
Mon, Jul. 25, 7:29 AM
- Net earnings of $1.25 vs. $1.07 per share in the same quarter a year ago.
- "Our team continued to execute well in challenging economic conditions, delivering high-teens adjusted EPS growth, and strong operating and free cash flow from continuing operations in the quarter," CEO Thomas Joyce declared.
- The company anticipates diluted net EPS for FQ3 to be in a range of $0.80-$0.84, and expects full year diluted net earnings of $3.53-$3.60.
- DHR +3% premarket
- Q2 results
Mon, Jul. 25, 6:01 AM
Sun, Jul. 24, 5:30 PM
Tue, Jul. 5, 12:50 PM
Tue, Jul. 5, 7:36 AM
Mon, Jun. 27, 11:16 AM
- The outperformance of low-P/E stocks that marked H1 is behind us, says RBC's Jonathan Golub, and it's time for the "Stable Growers" to re-asset leadership. He cautions about putting money to work too quickly though, noting the pullback so far has been limited.
- His list of Stable Growers (page 1, page 2): CHD, CL, CVS, K, MO, PEP, PG, PM, BCR, BDX, DGX, DVA, HSIC, JNJ, LH, MDT, SYK, TMO, UNH, ZBH, AFL, AON, MMC, TMK, CTAS, DHR, HON, ITW, LMT, MMM, NLSN, RSG, RTN, UPS, VRSK, WM, XYL, CMCSA, MCD, OMC, ADP, APH, EMC, MA, T, VZ, ECL, PX
Mon, Jun. 20, 8:34 AM
- Danaher (NYSE:DHR) has begun the process of splitting itself in two pieces, according to The Washington Post.
- The company began the formal split last Monday, and Danaher shareholders on Wednesday received one share of Fortive Corp. - the spinoff - for every two shares of Danaher.
- Fortive’s first trading day will be July 5 on the NYSE under the symbol FTV. Danaher will continue to trade under ticket DHR.
Tue, May 10, 5:38 PM
- Danaher Corporation (NYSE:DHR) declares $0.16/share quarterly dividend, in line with previous.
- Forward yield 0.65%
- Payable July 29; for shareholders of record June 3; ex-div June 1.
Wed, May 4, 7:53 AM
- Danaher (NYSE:DHR) expects to complete the spin-off of Fortive Corporation on July 2, 2016.
- The move will see common stockholders will receive a stock dividend of one share of Fortive common stock for every two shares of Danaher common stock they hold as of the spin-off record date, which is expected to be June 15, 2016.
- Fortive will be comprised of two segments, Professional Instrumentation and Industrial Technologies.
Thu, Apr. 21, 7:45 AM
- Net earnings of $1.08. $0.91 per share in the same quarter a year ago.
- "We were pleased with our start to 2016 as our team continued to outperform in the face of uncertain and challenging economic conditions," CEO Thomas Joyce declared.
- The company anticipates diluted net EPS for FQ2 to be in a range of $1.19-$1.23, and increased its expectations for full year diluted net earnings to $4.85-$4.98.
- Q1 results
Thu, Apr. 21, 6:02 AM
- Danaher Corporation (NYSE:DHR): Q1 EPS of $1.08 beats by $0.05.
- Revenue of $5.39B (+14.9% Y/Y) beats by $60M.