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Danaher -2% as Q2 earnings beat less than it appears, analyst says

Published 07/20/2017, 02:59 PM
Updated 07/20/2017, 02:59 PM
© Reuters.  Danaher -2% as Q2 earnings beat less than it appears, analyst says
  • Danaher (DHR -2%) is down despite reporting better than expected Q2 earnings and raising FY 2017 earnings guidance, seeing EPS of $3.90-$3.97 vs. $3.93 analyst consensus estimate and up from its prior outlook of $3.85-$3.95.
  • Wells Fargo (NYSE:WFC) reiterates its Market Perform rating on the shares, saying the Q2 beat does not look quite as strong on closer inspection.
  • The firm explains that DHR beat revenue slightly on a dollar basis, but core growth appears to be slightly below consensus and guidance, and while full-year guidance was raised slightly, Q3 is below consensus; no major surprises are noted in Life Sciences or Diagnostics, except that DHR is discontinuing the Veris line to focus on Cepheid.
  • Now read: Brunch, Craft Beer, And Investing: A Millennial's Portfolio


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