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Search resuls for: "bioprocessing"


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Credit Suisse is shifting its perspective on shares of Danaher as the company's bioprocess business comes under pressure. Analyst Dan Leonard downgraded the medical stock to neutral from outperform, citing exposure to bioprocessing inventory reductions that could threaten Danaher's growth. "Danaher has reduced its near-term growth expectations for its Bioprocess business (~25% of 2022e sales, ex COVID testing) as COVID vaccine demand has fallen and customers reduce inventory," he wrote in a note to clients Thursday. He trimmed his price target to $300 from $315 a share, with sales and earnings per shares expectations through 2025 coming in below Wall Street's expectations. The fresh target implies a near 13% jump for the stock after it shed more than 19% in 2022.
Jim Cramer says to buy shares of Danaher on the dip
  + stars: | 2022-10-21 | by ( Krystal Hur | ) www.cnbc.com   time to read: +1 min
CNBC's Jim Cramer on Friday advised investors to add Danaher to their shopping lists for next week after it reported third-quarter results. "You're now getting a chance to buy one of the best-run companies in the world at a big discount. Cramer said that this was a mistake, especially when considering that Danaher is an "arms dealer" of the pharma and biotech industry. And while investors might be worried about the decrease in business from the Covid market, the company is refocusing its spending on the much larger non-Covid space, Cramer said. Non-Covid bioprocessing sales grew well over 20%, and the company raised its expected full-year core sales growth forecast to the high-single-digit range.
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That trend is expected to continue and result in high-single-digit core revenue growth for the bioprocessing business for the full year. Driving the gains was 30% core revenue growth at Cepheid as the businesses respiratory testing revenue of about $875 million exceeded management's expectations of roughly $325 million. Guidance Management expects overall core revenue growth to be flat to down low-single-digits for the fourth quarter. For the full year 2022, management continues to forecast base business core revenue growth in the high-single-digit percent range. That's better than the 5.9% full-year core revenue growth expected on the Street.
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