Wolfe Research cuts DHR to Peer Perform, citing similar growth prospects and a cheaper Thermo Fisher on P/E multiples.
Wolfe Research downgraded Danaher Corporation (DHR) to Peer Perform from Outperform, without assigning a price target. The move follows the firm’s assumption of coverage, with analysts noting that forward and backward growth trajectories appear similar. Thermo Fisher Scientific (TMO) was highlighted as “a little cheaper on P/E.” The downgrade also reflects confusion over Danaher’s identity following its Masimo (MASI) transaction.
Danaher, a major player in diagnostics and life sciences, operates through four segments: Diagnostics, Biotechnology, Life Sciences, and Environmental and Applied Solutions. The company recently secured FDA 510(k) clearance for a new opioid-induced respiratory depression detection feature in its Radius VSM® wearable monitor, leveraging Masimo’s smartSET™ pulse oximetry platform. Despite these advancements, Wolfe Research’s downgrade underscores valuation and strategic clarity concerns.
The downgrade comes amid broader market scrutiny of non-tech stocks, with analysts weighing DHR’s growth potential against peers. No immediate market reaction was specified in the source.