newratings.com  Aug 31  Comment 
WASHINGTON (dpa-AFX) - Diversified machinery maker Danaher Corp. (DHR) announced the completion of its acquisition of Pall Corp. (PLL). On August 31, 2015, Danaher completed the merger of Pentagon Merger Sub, Inc., a New York corporation and an...
Market Intelligence Center  Aug 19  Comment 
The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center  are highlighting two trades on Danaher Corp (DHR) today after it closed at $91.51 on Tuesday. For more conservative investors,...
Market Intelligence Center  Aug 11  Comment 
MarketIntelligenceCenter.com's patented algorithms have selected a trade on Danaher Corp (DHR) that returns 5.51% in 157 days for an annualized return rate of 13%. This diagonal spread pairs a short position in the Jan. '16 $90.00 call, with a...
newratings.com  Jul 29  Comment 
WASHINGTON (dpa-AFX) - Pall Corp. (PLL), a provider of filtration, separation and purification technologies, said its shareholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger, dated May 12, by and...
Market Intelligence Center  Jul 29  Comment 
After closing Tuesday at $88.40, Danaher Corp (DHR) presents an attractive opportunity to get a 4.04% return in just 142 days, which is an annualized return of 10.39% (for comparison purposes only). To enter this trade, sell one Dec. '15 $87.50...
Benzinga  Jul 28  Comment 
Morgan Stanley upgraded Danaher Corporation (NYSE: DHR) from Equal-weight to Overweight. The price target for Danaher has been raised from $93 to $100. Danaher shares closed at $87.22 yesterday. Baird upgraded Beacon Roofing Supply, Inc. ...
Benzinga  Jul 28  Comment 
In a report published Tuesday, Morgan Stanley analyst Nigel Coe upgraded the rating on Danaher Corporation (NYSE: DHR) from Equal-Weight to Overweight, while raising the price target from $93 to $100. The analyst believes that the Pall Corporation...
Market Intelligence Center  Jul 23  Comment 
MarketIntelligenceCenter.com's option-trade picking algorithms have identified an attractive covered-call trade on Danaher Corp (DHR). Look at the Sep. '15 $87.50 covered call for a net debit in the $85.46 area. This trade has a duration of 57...
newratings.com  Jul 23  Comment 
WASHINGTON (dpa-AFX) - Diversified machinery maker Danaher Corp. (DHR) Thursday said its net earnings for the second quarter increased to $695.6 million or $0.97 per share from $676.4 million or $0.95 per share in the previous year. Adjusted net...


Danaher Corporation (NYSE:DHR) produces high-tech equipment for a broad range of industries, from surgical microscopes to airline smoke detectors. In the conglomerates industry, DHR competes against Goliaths like General Electric Company (GE) and 3M Company (MMM). The company generates slightly more than half of its revenues from overseas.[1] The company earned $11 billion in revenue and $1.1 billion in net income in 2009.[2]

As a conglomerate, DHR can apply its efficient manufacturing operations to many processes. Part of DHR's strategy is to acquire underperforming technology ventures and implement efficient manufacturing operations. In 2009 the company acquired 15 companies.[3] As a retailer, the company is susceptible to changes in the economic environment. The sluggish global economy caused a decrease in the demand for Danaher's products which resulted in net sales falling 12% in 2009.[2]

Company Overview

DHR operates in four segments:[4]

Professional Instrumentation (32.1% of Net Sales)

The professional instrumentation segment sells environmental and measurement tools. These tools include calibration equipment, water quality instruments, and petroleum services.

Medical Technologies (27.2% of Net Sales)

The medical technologies segment manufactures dental, microscopy, and life sciences equipment. Products range from infection control products to surgical microscopes. DHR sells these products to professionals and health care institutions.

Industrial Technologies (28.6% of Net Sales)

The industrial technologies segment manufactures production and packaging line products as well as aerospace & defense products. Industrial products range from motors to brakes and aerospace & defense products range from security systems to smoke detectors.

Tools & Components (12.1% of Net Sales)

The Tools & Components segment manufactures tools and industrial parts. Products range from hand tools to gear boxes to automotive tools, with brands including Matco and Sears Craftsman. These products are sold at hardware stores and to automotive end markets.

Business Growth

FY 2009 (ended December 31, 2009)[2]

  • Net sales fell 12% to $11.2 billion. The company attributes the lower sales to lower spending and investment by both businesses and consumers which resulted from the sluggish global economy. As a result, sales fell in all of the company's product segments.
  • Net income fell 12.6% to $1.1 billion.

Trends and Forces


Part of DHR's business strategy is to acquire poorly-run companies and manage them with more efficient operations. In 2009,t he company acquired 15 businesses for approximately $704 million. The businesses were acquired to complement the company's already existnig units of the Medical Technologies, Professional Instrumentation, and Industrial Technologies segments.[3]

DHR expands internationally in response to declining U.S. economy.

DHR reasons that consumers will buy less because of the potential recession, so the company wants to become less dependent on the U.S. economy. Danaher has turned this negative into a positive by expanding to emerging international markets. The company has had a strong presence in China -- the world's leading emerging market. Slightly more than half of the company's sales come from international markets,[1] of which a quarter come from China. Sales from China represent 6% of the company's total sales.[5]

However, in 2009 the sluggish global economy still had negative effects on the company's bottom line as net sales fell 12% for the year.[2]

Rising steel, oil and non-ferrous metals prices.

Steel is DHR's principle material used in manufacturing. Over the past 5 years, scrap metal price has grown from under $100 per ton to over $550 per ton. DHR also uses oil and gas in manufacturing and transportation. Prices for both have increased, and have caused the company's margins to decline.




  1. 1.0 1.1 DHR 2009 10-K "International Operations" pg. 14
  2. 2.0 2.1 2.2 2.3 DHR 2009 10-K "Selected Financial Data" pg. 28
  3. 3.0 3.1 DHR 2009 10-K "Acquisitions" pg. 30
  4. DHR 2009 10-K "Operating Segments" pg. 4-10
  5. DHR 2009 10-K "Operations in Geographical Areas Year Ended December 31" pg. 100
  6. 3M website, "About Us"
  7. Textron website, "Textron Businesses"
  8. Cooper Industries website, "About Cooper Industries"

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