Danaher Corporation (DHR - Free Report) has completed the acquisition of Cambridge, UK-based Abcam plc for $24.00 per share in cash. The deal, valued at approximately $5.7 billion (including assumed indebtedness and net of acquired cash), was inked in September this year.
Founded in 1998, Abcam is a producer, distributor and seller of protein research tools. The company offers highly validated antibodies, reagents, biomarkers and assays that are required for boosting drug discovery, life sciences research and diagnostics.
Abcam will be added to DHR’s Life Sciences segment, thus boosting its capability to identify complex diseases and accelerate the drug discovery process. The company's long track record of innovation, outstanding product quality and breadth of antibody portfolio is expected to help Danaher solve some of the world's greatest healthcare challenges.
Despite softness in the pharma and biopharma market, stable demand in the life science research and applied markets has been buoying the performance of the Life Sciences segment. Revenues from the segment increased 2.5% year over year in the first nine months of 2023.
Zacks Rank and Price Performance
Danaher currently carries a Zacks Rank #4 (Sell).
Weakness in the Biotechnology and Diagnostics segments due to a decrease in the sale of COVID-related products has impacted the company’s results. However, improving supply chains and strong price realization are driving Danaher’s growth.
In the past year, the DHR stock has declined 16.9% compared with the industry’s 6.9% decrease.
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Federal Signal Corporation (FSS - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 3.3%. The stock has risen 49.6% in the past year.
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have jumped 36.7% in the past year.
A. O. Smith Corporation (AOS - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 35.1% in the past year.
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Danaher Corporation (DHR - Free Report) has completed the acquisition of Cambridge, UK-based Abcam plc for $24.00 per share in cash. The deal, valued at approximately $5.7 billion (including assumed indebtedness and net of acquired cash), was inked in September this year.
Founded in 1998, Abcam is a producer, distributor and seller of protein research tools. The company offers highly validated antibodies, reagents, biomarkers and assays that are required for boosting drug discovery, life sciences research and diagnostics.
Abcam will be added to DHR’s Life Sciences segment, thus boosting its capability to identify complex diseases and accelerate the drug discovery process. The company's long track record of innovation, outstanding product quality and breadth of antibody portfolio is expected to help Danaher solve some of the world's greatest healthcare challenges.
Despite softness in the pharma and biopharma market, stable demand in the life science research and applied markets has been buoying the performance of the Life Sciences segment. Revenues from the segment increased 2.5% year over year in the first nine months of 2023.
Zacks Rank and Price Performance
Danaher currently carries a Zacks Rank #4 (Sell).
Weakness in the Biotechnology and Diagnostics segments due to a decrease in the sale of COVID-related products has impacted the company’s results. However, improving supply chains and strong price realization are driving Danaher’s growth.
In the past year, the DHR stock has declined 16.9% compared with the industry’s 6.9% decrease.
Stocks to Consider
Some better-ranked companies have been discussed below.
Federal Signal Corporation (FSS - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 3.3%. The stock has risen 49.6% in the past year.
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have jumped 36.7% in the past year.
A. O. Smith Corporation (AOS - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 35.1% in the past year.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
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