Danaher

DHR · NYSE

$224.24−$0.19 (−0.08%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $224.43

DHR analyst rating

BuyConsensus of 15 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy12
Hold3
Underperform0
Sell0

12-month price target · 25 analysts

Average $234.76 (+4.7% upside)

Low: $202.00
Now: $224.24
High: $325.50

Upgrades and downgrades

The latest rating actions, newest first

DHR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 13, 2026	Maintains	Overweight	$220.00 → $240.00	56%
TD Cowen	Oct 13, 2026	Maintains	Buy	$236.00 → $255.00	61%
Barclays	Oct 7, 2026	Maintains	Overweight	$230.00 → $255.00	54%
RBC Capital	Oct 5, 2026	Maintains	Outperform	$215.00 → $250.00	59%
Guggenheim	Oct 1, 2026	Maintains	Buy	$200.00 → $250.00	66%
Wells Fargo	Jul 22, 2026	Maintains	Equal-Weight	$212.00 → $195.00	66%
TD Cowen	Jul 22, 2026	Maintains	Buy	$240.00 → $236.00	61%
Stifel	Jul 22, 2026	Maintains	Buy	$260.00 → $220.00	65%
Guggenheim	Jul 22, 2026	Maintains	Buy	$235.00 → $200.00	66%
RBC Capital	Jul 22, 2026	Maintains	Outperform	$200.00 → $215.00	59%

The case for and against

Updated Oct 18, 2026

Bull case

Danaher is supported by a broadening growth recovery, led by its market-leading bioprocessing franchise, where resilient consumables demand, improving equipment orders, and de-risked resin timing should help results recover from the Q2 miss and support the long-term high-single-digit thesis. Life Sciences also strengthened with about 5.5% growth and 27.1% adjusted operating margins, while Diagnostics appears to have troughed as China reimbursement guidance and a moderate flu season reduce downside risk and a new multiplexed respiratory test expands share opportunity. The company’s quality is reinforced by $6.27B of revenue, $1.94 adjusted EPS, and $1.3B of free cash flow in the quarter, showing strong execution and cash generation.

Bear case

Danaher is facing a fundamentally weak setup because its Life Sciences business has posted sales declines for the past two years, with instrument demand still declining and only a cautious low-mid single digit 2H growth outlook versus 5.5% in Q2. Its bioprocess equipment recovery has not materialized despite reshoring commentary, China diagnostics remain a drag with sales now under $1B of annual company sales, and several recent Life Sciences acquisitions have failed to meet expectations. Those pressures raise the risk of multiple compression, as investors may stop rewarding the company with a premium valuation if the growth rebound keeps disappointing.

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