Danaher Corporation (NYSE: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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