The stock is under pressure in early trading due to uncertainty around the recovery in a key business.
We're buying 30 shares of Danaher at roughly $199 each. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 550 shares of DHR, increasing its weighting in the portfolio to 4.08% from 3.87%. Danaher reported a better-than-expected third-quarter Tuesday morning, but the stock is under pressure in early trading due to uncertainty around the recovery in its bioprocessing business. For the quarter, Danaher revenues fell 10.5% to $6.87 billion, beating estimates of $6.
Danaher pointed out that its bioprocessing orders were down in the third quarter versus the second quarter and were expected to decline again in the fourth. We pay close attention to orders because they precede sales. Danaher's view that orders will decline over the next two quarters contrasts the upbeat data point its bioprocessing peer Sartorious said last week.
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