Danaher is off to a good start in 2024

Article Excerpt

DANAHER CORP. $250 is a buy for aggressive investors. The company (New York symbol DHR; Aggressive Growth Portfolio; Manufacturing & Industry sector; Shares outstanding 738.9 million; Market cap: $184.7 billion; Price-to-sales ratio: 8.0; Dividend yield: 0.4%; TSINetwork Rating: Above Average; www.danaher.com) spun off its Environmental products division as Veralto Corp. (New York symbol VLTO) in September 2023. If you exclude that business as well as acquisitions, the company expects revenue in 2024 will decline about 5%. That’s mainly due to lower demand for its medical testing, and lab equipment, related to the development of COVID-19 vaccines and treatments. However, earnings in 2024 will likely rise 0.4% to $7.61 a share. The stock, which is up 8% since the start of the year, trades a high, but still reasonable, 32.9 times that estimate. The $1.08 dividend yields 0.4%. Danaher is a buy. buy. …