Danaher Parting With Underperforming Dental Business as Remainder of Business Shines
Overall, narrow-moat Danaher reported strong second-quarter results across most of its businesses. We plan to slightly increase our near-term projections, which may lead to a modest bump to our fair value estimate. Our adjusted EPS estimate of $4.43, previously at the high end of management's year-end outlook, now falls at the low end of the company's updated range of $4.43 to $4.50. Management noted a slight headwind from the implementation of tariffs, but we view the issue as relatively immate...Danaher designs, manufactures and markets medical, industrial and commercial products and services. The company's segments include: Life Sciences, which provides research tools to study genes, proteins, metabolites and cells, in order to understand the causes of disease, identify therapies and test drugs and vaccines; Diagnostics, which provides analytical instruments, reagents, consumables, software and services that hospitals, physicians' offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions; and Environmental and Applied Solutions, which provides products and services to protect resources and global food and water supplies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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