Danaher posted first-quarter results that were in line with the consensus on Wall Street. The Washington, D.C.-based company reported profits of $595.1 million, or 81¢ per share on sales of $4.3 billion for the three months ended March 31, for a bottom-line gain of 78.3% sales growth of 2.9% compared with Q1 2019. Adjusted to […]
Rainer M. Blair to move up to corner office at Danaher
Danaher (NYSE:DHR) announced today that EVP Rainer M. Blair will become CEO after Thomas P. Joyce Jr.’s retirement on Sept. 1. Joyce will stay on as a senior advisor at Danaher through February 28, 2021. “This announced transition comes at a time when Danaher has never been stronger or better positioned to compete given our attractive […]
GE closes $20b sale of BioPharma to Danaher
General Electric (NYSE:GE) announced that it completed the sale of its BioPharma business to Danaher (NYSE:DHR) for net proceeds totaling approximately $20 billion. Boston-based GE said in a news release that, under the agreeement, it received a total consideration worth $21.4 billion, with $21 billion in cash along with Danaher’s assumption of certain pension liabilities. After accounting for […]
5 companies on the front lines of the coronavirus fight
Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
Cepheid wins emergency use nod from FDA for bedside coronavirus test
Danaher Corp. (NYSE:DHR) subsidiary Cepheid announced that it received emergency use authorization from the FDA for its bedside Xpert Xpress SARS-CoV-2 test for detecting the virus causing the COVID-19 outbreak. The rapid molecular diagnostic test is designed to detect the SARS-CoV-2 virus causing coronavirus while operating on any of Cepheid’s GeneXpert systems worldwide, with a detection […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
Danaher up on strong Q4 results, including life sciences and diagnostics
Danaher (NYSE:DHR) shares crept up today on big fourth-quarter gains that topped the consensus forecast. The Washington D.C.–based company posted profits of $1.275 billion, or $1.73 per share, on sales of $4.868 billion for the three months ended Dec. 31, 2019, for a 70.7% bottom-line gain on sales growth of 5.7%. Adjusted to exclude one-time items, […]
Danaher completes spinoff of dental business into Envista
Danaher (NYSE:DHR) today announced the completion of split-off exchange offer of all the shares of the common stock belonging to its dental business spinout Envista (NYSE:NVST). The Envista common stock held by Danaher is slated to be exchanged for shares of Danaher’s common stock. Danaher accepted an aggregate of more than 22.9 million shares of Danaher common […]
Danaher lists offering of Envista stock
Danaher (NYSE:DHR) initiated an offer to exchange nearly 130 million shares of common stock of its dental business spinout Envista (NYSE:NVST). In the exchange of up to an aggregate of 127,868,000 shares of Envista stock, which is listed at $27.70 per share in midday trading today, for each $100 of Danaher common stock accepted, approximately $107.53 of […]
Envista beats on earnings, misses on revenues with first quarterly report
Envista (NYSE:NVST), the Danaher (NYSE:DHR) dental spinout, today post third-quarter results that beat the consensus forecast on earnings but missed the revenues mark, in its first quarterly report since going public last month. Brea, Calif.-based Envista put up profits of $62.1 million, or 48¢ per share, on sales of $659.3 million for the three months ended Sept. […]
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