Company profile

Ticker
DHR
Exchange
Website
CEO
Thomas Patrick Joyce
Employees
Incorporated in
Fiscal year end
Former names
DMG INC
SEC CIK
IRS number
591995548

DHR stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 May 20
8 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Apr 20 Dec 19 Sep 19 Jun 19
Revenue 4.34B 4.87B 4.38B 4.44B
Net income 595.1M 1.28B 673.9M 731.3M
Diluted EPS 0.81 1.73 0.89 0.97
Net profit margin 13.70% 26.19% 15.39% 16.45%
Operating income 697.5M 961.7M 776.3M 811.7M
Net change in cash -15.54B 5.66B 8.82B 1.52B
Cash on hand 4.37B 19.91B 14.25B 5.43B
Cost of revenue 1.9B 1.26B 2.23B 2.28B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 17.91B 19.89B 18.33B 16.88B
Net income 3.01B 2.65B 2.49B 2.55B
Diluted EPS 4.05 3.74 3.53 3.65
Net profit margin 16.80% 13.33% 13.60% 15.13%
Operating income 3.27B 3.06B 2.57B 2.74B
Net change in cash 19.12B 157.5M -333.4M 172.9M
Cash on hand 19.91B 787.8M 630.3M 963.7M
Cost of revenue 7.93B 7.54B 6.95B 7.55B

Financial data from Danaher earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
29 May 20 Mitchell P Rales Common Stock, par value $.01 Buy Aquire P No 166.75 15,167 2.53M 2,377,874
29 May 20 Mitchell P Rales Common Stock, par value $.01 Buy Aquire P No 165.74 26,386 4.37M 2,362,707
29 May 20 Mitchell P Rales Common Stock, par value $.01 Buy Aquire P No 164.62 38,019 6.26M 2,336,321
29 May 20 Mitchell P Rales Common Stock, par value $.01 Buy Aquire P No 163.79 61,848 10.13M 2,298,302
28 May 20 Lohr Walter G Common Stock Sell Dispose S No 165.61 11,014 1.82M 11,378
28 May 20 Lohr Walter G Common Stock Option exercise Aquire M No 28.98 11,014 319.19K 22,392
28 May 20 Lohr Walter G Director Stock Option Common Stock Option exercise Dispose M No 28.98 11,014 319.19K 0
28 May 20 Blair Rainer Common Stock Sell Dispose S No 165.957 3,330 552.64K 36,256
18 May 20 Comas Daniel L Common Stock Sell Dispose S No 165.676 18,259 3.03M 104,933
15 May 20 Blair Rainer Employee Stock Option Common Stock Grant Aquire A No 163.85 17,710 2.9M 17,710
76.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1463 1485 -1.5%
Opened positions 120 179 -33.0%
Closed positions 142 93 +52.7%
Increased positions 485 488 -0.6%
Reduced positions 671 594 +13.0%
13F shares
Current Prev Q Change
Total value 1.02T 1.04T -1.3%
Total shares 541.53M 555.08M -2.4%
Total puts 2.08M 2.62M -20.5%
Total calls 1.98M 1.58M +25.0%
Total put/call ratio 1.1 1.7 -36.4%
Largest owners
Shares Value Change
Vanguard 50.9M $7.05B +2.9%
BLK BlackRock 41.69M $5.77B -5.5%
N Price T Rowe Associates 39.64M $5.49B -1.6%
STT State Street 26.52M $3.68B -0.3%
FMR 24.42M $3.38B -6.2%
Wellington Management 20.42M $2.83B +8.0%
Massachusetts Financial Services 16.67M $2.31B -10.4%
MS Morgan Stanley 13.73M $1.9B -1.7%
BAC Bank of America 11.45M $1.58B +1.6%
Geode Capital Management 9.34M $1.29B -1.4%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -7.14M EXIT
D1 Capital Partners 3.88M +3.88M NEW
Jennison Associates 1.34M -3.31M -71.2%
BLK BlackRock 41.69M -2.41M -5.5%
Citadel Advisors 1.98M +1.95M +6495.5%
Massachusetts Financial Services 16.67M -1.93M -10.4%
Fisher Asset Management 1.88M +1.87M +38462.8%
FRLG Goldman Sachs 3.6M -1.7M -32.0%
FMR 24.42M -1.6M -6.2%
Artisan Partners Limited Partnership 1.74M +1.57M +878.5%

Financial report summary

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Risks
  • We may not complete the GE Biopharma Acquisition within the time frame we anticipate or at all; regulatory approval of the GE Biopharma Acquisition is subject to conditions; and the GE Biopharma Acquisition could negatively impact our business, financial statements and stock price.
  • Our outstanding debt has increased significantly in anticipation of the GE Biopharma Acquisition, and we expect to incur additional debt in the future. Our existing and future indebtedness may limit our operations and our use of our cash flow and negatively impact our credit ratings; and any failure to comply with the covenants that apply to our indebtedness could adversely affect our liquidity and financial statements.
  • Our growth could suffer if the markets into which we sell our products and services decline, do not grow as anticipated or experience cyclicality.
  • We face intense competition and if we are unable to compete effectively, we may experience decreased demand and decreased market share. Even if we compete effectively, we may be required to reduce prices for our products and services.
  • Our growth depends in part on the timely development and commercialization, and customer acceptance, of new and enhanced products and services based on technological innovation.
  • Our reputation, ability to do business and financial statements can be impaired by improper conduct by any of our employees, agents or business partners.
  • Certain of our businesses are subject to extensive regulation by the U.S. FDA and by comparable agencies of other countries, as well as laws regulating fraud and abuse in the health care industry and the privacy and security of health information. Failure to comply with those regulations could adversely affect our reputation, ability to do business and financial statements.
  • Off-label marketing of our products could result in substantial penalties.
  • Certain modifications to our products may require new 510(k) clearances or other marketing authorizations and may require us to recall or cease marketing our products.
  • The health care industry and related industries that we serve have undergone, and are in the process of undergoing, significant changes in an effort to reduce costs, which could adversely affect our financial statements.
  • Any inability to consummate acquisitions at our historical rate and at appropriate prices, and to make appropriate investments that support our long-term strategy, could negatively impact our growth rate and stock price.
  • Our acquisition of businesses, investments, joint ventures and other strategic relationships could negatively impact our financial statements.
  • The indemnification provisions of acquisition agreements by which we have acquired companies may not fully protect us and as a result we may face unexpected liabilities.
  • Divestitures or other dispositions could negatively impact our business, and contingent liabilities from businesses that we or our predecessors have sold could adversely affect our financial statements.
  • We could incur significant liability if any of the 2015 separation and split-off of our communications business, the 2016 separation and spin-off of Fortive or the 2019 separation, IPO and split-off of Envista is determined to be a taxable transaction.
  • Potential indemnification liabilities pursuant to the 2015 separation and split-off of our communications business, the 2016 separation and spin-off of Fortive or the 2019 separation, IPO and split-off of Envista could materially and adversely affect our business and financial statements.
  • A significant disruption in, or breach in security of, our information technology systems or data or violation of data privacy laws could adversely affect our business, reputation and financial statements.
  • Our operations, products and services expose us to the risk of environmental, health and safety liabilities, costs and violations that could adversely affect our business, reputation and financial statements.
  • Our businesses are subject to extensive regulation; failure to comply with those regulations could adversely affect our financial statements and our business, including our reputation.
  • Our restructuring actions can have long-term adverse effects on our business.
  • We may be required to recognize impairment charges for our goodwill and other intangible assets.
  • Foreign currency exchange rates can adversely affect our financial statements.
  • Changes in our tax rates or exposure to additional income tax liabilities or assessments can affect our profitability. In addition, audits by tax authorities can result in additional tax payments for prior periods.
  • Changes in tax law relating to multinational corporations could adversely affect our tax position.
  • We are subject to a variety of litigation and other legal and regulatory proceedings in the course of our business that can adversely affect our business and financial statements.
  • If we are unable to adequately protect our intellectual property, or if third-parties infringe our intellectual property rights, we may suffer competitive injury or expend significant resources enforcing our rights. These risks are particularly pronounced in countries in which we do business that do not have levels of protection of intellectual property comparable to the United States.
  • Third-parties from time to time claim that we are infringing or misappropriating their intellectual property rights and we could suffer significant litigation expenses, losses or licensing expenses or be prevented from selling products or services.
  • The U.S. government has certain rights to use and disclose some of the intellectual property that we license and could exclusively license it to a third-party if we fail to achieve practical application of the intellectual property.
  • Defects and unanticipated use or inadequate disclosure with respect to our products or services, or allegations thereof, can adversely affect our business, reputation and financial statements.
  • The manufacture of many of our products is a highly exacting and complex process, and if we directly or indirectly encounter problems manufacturing products, our reputation, business and financial statements could suffer.
  • Adverse changes in our relationships with, or the financial condition, performance, purchasing patterns or inventory levels of, key distributors and other channel partners can adversely affect our financial statements.
  • Certain of our businesses rely on relationships with collaborative partners and other third-parties for development, supply and marketing of certain products and potential products, and such collaborative partners or other third-parties could fail to perform sufficiently.
  • Our financial results are subject to fluctuations in the cost and availability of commodities that we use in our operations.
  • If we cannot adjust our manufacturing capacity or the purchases required for our manufacturing activities to reflect changes in market conditions and customer demand, our profitability may suffer. In addition, our reliance upon sole or limited sources of supply for certain materials, components and services can cause production interruptions, delays and inefficiencies.
  • Changes in governmental regulations can reduce demand for our products or services or increase our expenses.
  • Work stoppages, union and works council campaigns and other labor disputes could adversely impact our productivity and results of operations.
  • International economic, political, legal, compliance and business factors could negatively affect our financial statements.
  • Significant developments stemming from the UK’s referendum decision to exit the EU could have an adverse effect on us.
  • If we suffer loss to our facilities, supply chains, distribution systems or information technology systems due to catastrophe or other events, our operations could be seriously harmed.
  • Our defined benefit pension plans are subject to financial market risks that could adversely affect our financial statements.
Management Discussion
  • In this report, references to the non-GAAP measures of core sales (also referred to as core revenues or sales/revenues from existing businesses) and core sales including Cytiva refer to sales calculated according to U.S. GAAP, but excluding:
  • Except in connection with the measure core sales including Cytiva, references to sales or operating profit attributable to acquisitions or acquired businesses refer to sales or operating profit, as applicable, from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales and operating profit, as applicable, attributable to divested product lines not considered discontinued operations. The portion of revenue attributable to currency translation is calculated as the difference between:
  • Beginning with respect to the second quarter of 2020, the Company intends to also present core sales on a basis that includes sales attributable to Cytiva (formerly the Biopharma Business of GE’s Life Sciences business), which Danaher acquired from GE on March 31, 2020. Historically Danaher has calculated core sales solely on a basis that excludes sales from acquired businesses recorded prior to the first anniversary of the acquisition. However, given Cytiva’s significant size and historical core sales growth rate, in each case compared to Danaher’s existing businesses, management believes it is appropriate to also present core sales on a basis that includes Cytiva. Management believes this presentation will provide useful information to investors by demonstrating on a current basis the impact Cytiva has on the Company’s growth profile, rather than waiting to demonstrate such impact twelve months after the acquisition when Cytiva would normally have been included in Danaher’s core sales calculation. Danaher intends to calculate period-to-period core revenue from continuing operations including Cytiva by adding to the baseline period revenue Cytiva’s historical revenue from such period (when it was owned by GE), net of the revenues of the product lines Danaher divested to obtain regulatory approval for the Cytiva acquisition, and also adding Cytiva’s net revenues to the current period.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
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Removed: accomplish, acquire, announced, announcement, arising, arrangement, assure, automobile, bone, book, brand, brought, cancellable, cell, chromatography, clarified, commenced, commencement, commencing, constant, constitute, contingency, counsel, create, criteria, culture, customary, customized, dedicated, defend, delay, dental, depreciated, distinct, distract, distribute, divert, dividing, downgrading, ease, effected, establishing, estate, Executing, exist, existence, exiting, expired, export, extend, faith, frame, geopolitical, hereinafter, historic, human, IDT, iii, immaterial, implant, implicit, inception, issue, judgment, largely, lessor, maintenance, media, minimum, monetary, notable, observed, office, oil, orthodontic, ownership, Pall, partly, pay, periodically, plant, prevent, pursued, real, receipt, receiving, redeem, reimbursement, renew, rent, rental, residual, ROU, satisfactory, shipped, single, smile, space, spare, specialty, STL, storage, sublease, Supplemental, targeted, taxed, TCJA, teeth, terminate, terminated, therefrom, timeline, transferred, unchanged, unguaranteed, updated, warehouse, withdrawal, York, Zealand

Patents

GRANT
Utility
Compositions and methods for treating water by stabilizing an oxidizing biocide
7 Jul 20
Methods and liquid compositions for stabilizing an oxidizing biocide in a water system.
GRANT
Utility
Sample handling apparatus for pressurized fluids and X-ray analyzer applications thereof
7 Jul 20
A sample handling apparatus/technique/method for a material analyze including a sample carrier for presenting a pressurized sample (e.g., LPG) to a sample focal area of the analyzer; a removable fixture for charging the pressurized sample into the sample carrier; the removable fixture including at least one port to provide sample to and from the fixture and carrier.
GRANT
Utility
System and method for image analysis of multi-dimensional data
7 Jul 20
A system and method for analyzing multi-dimensional images includes a high content imaging system that includes an image capture device.
GRANT
Utility
Method for adjusting the intensity of a light beam in an optical arrangement and associated optical arrangement
7 Jul 20
A method for adjusting an intensity of a light beam in an optical arrangement includes passing the light beam through an acousto-optical tunable filter (AOTF).
GRANT
Utility
System and method for automatically analyzing phenotypical responses of cells
7 Jul 20
A system and a method to analyze a phenotypical response of cells to a treatment are disclosed in which a model development module receives images of a plurality of reference cell carriers and treatment information associated with the plurality of reference cell carriers, identifies parameters of cells in the image that distinguish those reference cell carriers to which the treatment has been applied from other reference cell carriers, and trains a model using the identified parameters.