Why Danaher Corporation Stock Gained Today

Danaher Corporation DHR shares are trading higher on Tuesday, alongside shares of healthcare equipment and lifesciences tools stocks. Strength may be in sympathy with GE HealthCare, which reported better-than-expected third-quarter financial results.

What To Know: GE HealthCare released its third-quarter earnings before the open of the market on Tuesday. The company reported quarterly earnings of 99 cents per share which beat the analyst consensus estimate of 90 cents, a 17.5% decrease over earnings of $1.20 per share from the same period last year.

The company reported quarterly sales of $4.82 billion which beat the analyst consensus estimate of $4.80 billion, a 5.38% increase over sales of $4.58 billion from the same period last year.

Full-year 2023 earnings per share guidance was issued in range between $3.75 and $3.85, versus standalone full-year 2022 earnings per share of $3.38, prior guidance of between $3.70 and $3.85, and consensus of $3.79.

The possible sympathy move with GE HealthCare comes on the heels of Danaher's third-quarter earnings report last Tuesday which caused shares of the stock to trend lower over the past week. While the company posted earnings above estimates, guidance was weak.

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DHR Price Action: Shares of DHR were up 3.62% at $191.81 at the time of publication, according to Benzinga Pro.

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