Analyst Consensus ?
ConsensusBuy43 ratings
Bullish3069.8%
Neutral1227.9%
Bearish12.3%
Danaher Corporation · DHR · FY2025 Q3 · Calendar Q4 2025
Danaher reports 3% core growth as equipment recovery remains uneven
The quarter supports a constructive but qualified view: resilient bioprocessing consumables demand, diagnostics growth, and productivity actions offset uneven equipment demand. The evidence is positive for growth, but China policy, funding conditions, and the durability of margin gains remain important tests.
Reported Before market openNYSEHealthcare
$150.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.89
Consensus $1.72
EPS surprise
+9.9%
Reported versus consensus
Reported revenue
$6.05B
Consensus $6.00B
Revenue surprise
+0.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+5.9%
Event window
SPY move
-0.0%
Same window
Abnormal move
+5.9%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+2.1%
Up to 20 sessions
DHRSPY benchmark
Ask FN2 about DHR FY2025 Q3
Transcript, numbers and history already loaded
Why did DHR rise 5.9% after beating EPS estimates in FY2025 Q3?What changed in DHR's guidance and outlook in FY2025 Q3?Give me the bull and bear case for DHR after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, the current analysis showed 3% core revenue growth, high-single-digit bioprocessing-consumables growth, stronger diagnostics, and flat equipment demand. FY2025 EPS guidance remained unchanged, while management provided a 3%-6% FY2026 core-revenue-growth outlook.
Guidance delta
FY2025 adjusted EPS guidance was maintained; FY2026 core revenue growth was projected at 3%-6%.
Key takeaways
- Q3 revenue grew 3% to $6.1 billion, with margins expanding and free cash flow of $1.4 billion.
- Bioprocessing consumables grew at a high-single-digit rate, while equipment was flat amid policy uncertainty.
- Diagnostics performed strongly, and management continued investing in digital, AI, and new products.
- China VBP headwinds were quantified at $75 million-$100 million and described as manageable.
Management priorities
- Launch new TFF filter cartridges and a next-generation perfusion system
- Expand Xcellerex bioreactors and digital and AI capabilities
- Build capacity at Cytiva facilities and continue product development in diagnostics
- Maintain disciplined capital allocation through repurchases and selective M&A evaluation
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$214.06Current
$195Low
$271.24Average
$370High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Guggenheim | Buy | Buy | Maintain | Oct 1, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 22, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 22, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 22, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 22, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 6, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jun 11, 2026 |
| HSBC | Buy | Buy | Maintain | Jun 3, 2026 |
| Citigroup | Neutral | Buy | Downgrade | May 27, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 23, 2026 |
| UBS | Buy | Buy | Maintain | Apr 22, 2026 |
| Baird | Outperform | Outperform | Maintain | Apr 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 14, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 13, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jan 29, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 29, 2026 |
| Rothschild & Co | Neutral | Buy | Downgrade | Oct 8, 2025 |
| B of A Securities | Buy | Buy | Maintain | Sep 22, 2025 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Jul 11, 2025 |
| Raymond James | Market Perform | Outperform | Downgrade | Feb 3, 2025 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Oct 31, 2024 |
| Stephens & Co. | Overweight | Overweight | Maintain | Oct 23, 2024 |
| Keybanc | Overweight | Overweight | Maintain | Oct 23, 2024 |
| Leerink Partners | Outperform | Outperform | Maintain | Jul 24, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Apr 27, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 26, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 25, 2023 |
| Benchmark | Hold | Buy | Downgrade | Oct 24, 2022 |
| Needham | Buy | Buy | Maintain | Jul 27, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jan 31, 2020 |
| Argus Research | Buy | Buy | Maintain | Feb 1, 2018 |
| Argus | Buy | Buy | Maintain | Feb 1, 2018 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jun 7, 2017 |
| Janney Capital | Neutral | Buy | Downgrade | Jun 7, 2017 |
| Bernstein | Outperform | Market Perform | Upgrade | Jun 24, 2016 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Apr 25, 2016 |
| Sterne Agee | Neutral | Neutral | Maintain | Apr 25, 2016 |
| FBR Capital | Outperform | Market Perform | Upgrade | Nov 12, 2014 |
| ISI Group | Strong Buy | Buy | Upgrade | Apr 9, 2014 |
| S&P Capital IQ | Sell | Hold | Downgrade | Jan 17, 2014 |
| Bank of America | Buy | Neutral | Upgrade | Jan 14, 2014 |
| Ladenburg Thalmann | Buy | Buy | Maintain | Mar 4, 2013 |
| BMO Capital | Outperform | Outperform | Maintain | Jan 30, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $214.06. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Subbu Nambi | $250 | $220.34 | +16.8% | Oct 1, 2026 |
| UBS | Douglas Schenkel | $250 | $205.2 | +16.8% | Sep 9, 2026 |
| Deutsche Bank | Justin Bowers | $240 | $175.03 | +12.1% | Jul 22, 2026 |
| RBC Capital | Analyst unavailable | $215 | $179.14 | +0.4% | Jul 22, 2026 |
| Stifel Nicolaus | Daniel Arias | $220 | $179.14 | +2.8% | Jul 22, 2026 |
| Guggenheim | Analyst unavailable | $200 | $179.14 | -6.6% | Jul 22, 2026 |
| Wells Fargo | Analyst unavailable | $195 | $179.14 | -8.9% | Jul 22, 2026 |
| Evercore ISI | Vijay Kumar | $230 | $190.6 | +7.4% | Jul 6, 2026 |
| Piper Sandler | Analyst unavailable | $200 | $183.63 | -6.6% | Jun 11, 2026 |
| HSBC | Analyst unavailable | $230 | $176.11 | +7.4% | Jun 3, 2026 |
| RBC Capital | Analyst unavailable | $200 | $164.54 | -6.6% | May 14, 2026 |
| Jefferies | Tycho Peterson | $245 | $194.45 | +14.5% | Apr 21, 2026 |
| Robert W. Baird | Catherine Ramsey Schulte | $249 | $193.78 | +16.3% | Apr 17, 2026 |
| Redburn Partners | Analyst unavailable | $205 | $193.78 | -4.2% | Apr 17, 2026 |
| Barclays | Analyst unavailable | $230 | $195.87 | +7.4% | Apr 14, 2026 |
| Robert W. Baird | Analyst unavailable | $251 | $224.54 | +17.3% | Jan 29, 2026 |
| Jefferies | Analyst unavailable | $265 | $224.54 | +23.8% | Jan 28, 2026 |
| Evercore ISI | Vijay Kumar | $254 | $224.48 | +18.7% | Jan 28, 2026 |
| Argus Research | Analyst unavailable | $265 | $235.56 | +23.8% | Jan 14, 2026 |
| Evercore ISI | Vijay Kumar | $250 | $231.72 | +16.8% | Jan 5, 2026 |
| Wells Fargo | Analyst unavailable | $240 | $226.71 | +12.1% | Dec 15, 2025 |
| Goldman Sachs | Analyst unavailable | $265 | $224.48 | +23.8% | Dec 9, 2025 |
| Morgan Stanley | Analyst unavailable | $270 | $224.14 | +26.1% | Dec 1, 2025 |
| Wells Fargo | Analyst unavailable | $230 | $218.1 | +7.4% | Oct 23, 2025 |
| Robert W. Baird | Analyst unavailable | $247 | $220.77 | +15.4% | Oct 22, 2025 |
| Redburn Partners | Analyst unavailable | $220 | $208.77 | +2.8% | Oct 8, 2025 |
| RBC Capital | Analyst unavailable | $241 | $203.79 | +12.6% | Sep 2, 2025 |
| Scotiabank | Sung Ji Nam | $275 | $204.85 | +28.5% | Jul 11, 2025 |
| UBS | Dan Leonard | $240 | $196.31 | +12.1% | Apr 23, 2025 |
| Goldman Sachs | Matthew Sykes | $240 | $192.07 | +12.1% | Apr 22, 2025 |
| Robert W. Baird | Catherine Ramsey Schulte | $231 | $190.66 | +7.9% | Apr 16, 2025 |
| Stifel Nicolaus | Analyst unavailable | $260 | $210.74 | +21.5% | Mar 14, 2025 |
| Goldman Sachs | Matthew Sykes | $250 | $237.97 | +16.8% | Jan 15, 2025 |
| Guggenheim | Subbu Nambi | $275 | $228.66 | +28.5% | Dec 19, 2024 |
| Wolfe Research | Doug Schenkel | $285 | $242.32 | +33.1% | Oct 31, 2024 |
| KeyBanc | Paul Knight | $310 | $257.67 | +44.8% | Oct 23, 2024 |
| Robert W. Baird | Catherine Schulte | $277 | $261.28 | +29.4% | Oct 23, 2024 |
| Leerink Partners | Puneet Souda | $275 | $261.28 | +28.5% | Oct 23, 2024 |
| Stifel Nicolaus | Jacob Johnson | $315 | $273.62 | +47.2% | Oct 1, 2024 |
| Deutsche Bank | Justin Bowers | $270 | $236.08 | +26.1% | Apr 23, 2024 |
| HSBC | Rajesh Kumar | $280 | $240.34 | +30.8% | Apr 17, 2024 |
| Loop Capital Markets | Paul Knight | $300 | $247.44 | +40.1% | Sep 27, 2023 |
| Credit Suisse | Analyst unavailable | $300 | $266.37 | +40.1% | Jan 5, 2023 |
| Deutsche Bank | Analyst unavailable | $310 | $276.68 | +44.8% | Dec 14, 2022 |
| Barclays | Analyst unavailable | $277 | $261.16 | +29.4% | Nov 29, 2022 |
| UBS | Elizabeth Garcia | $297 | $291.47 | +38.7% | Jul 31, 2022 |
| RBC Capital | Deane Dray | $310 | $261.83 | +44.8% | Jun 1, 2022 |
| Robert W. Baird | Catherine Schulte | $319 | $248.14 | +49.0% | May 6, 2022 |
| Wells Fargo | Timothy Daley | $265 | $257.5 | +23.8% | Apr 29, 2022 |
| RBC Capital | Deane Dray | $299 | $250.98 | +39.7% | Apr 27, 2022 |
| Robert W. Baird | Catherine Schulte | $334 | $287.63 | +56.0% | Feb 6, 2022 |
| Goldman Sachs | Matthew Sykes | $360 | $281.11 | +68.2% | Jan 30, 2022 |
| Bernstein | Brendan Luecke | $365 | $293.31 | +70.5% | Jan 16, 2022 |
| Cowen & Co. | Daniel Brennan | $360 | $312.9 | +68.2% | Oct 22, 2021 |
| KeyBanc | Paul Knight | $345 | $312.9 | +61.2% | Oct 22, 2021 |
| Credit Suisse | Katie Tryhane | $370 | $329.26 | +72.8% | Sep 10, 2021 |
| Bank of America Securities | Derik De Bruin | $340 | $290.62 | +58.8% | Jul 23, 2021 |
| Benchmark Co. | Robert Wasserman | $330 | $284.16 | +54.2% | Jul 16, 2021 |
| Wolfe Research | Liza Garcia | $325 | $256.2 | +51.8% | Jun 18, 2021 |
| Morgan Stanley | Erin Wright | $288 | $256.2 | +34.5% | Jun 18, 2021 |
Track every rating change on DHR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDanaher Corporation is a diversified global technology and science company that specializes in developing, manufacturing, and distributing a wide array of professional, medical, industrial, and commercial products and services across the world. The organization is structured into three primary operating segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. Within the Life Sciences segment, Danaher provides advanced instrumentation and solutions crucial for scientific research and development. This encompasses equipment like mass spectrometers, flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization tools, and microscopes, alongside genomics consumables and technologies vital for Gene and Cell Therapy. Additionally, it delivers bioprocess technologies, consumables, and related services, as well as sophisticated filtration, separation, and purification systems.…
Historical context
All DHR earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the DHR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T01:30:41.016292+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T01:30:41.013383+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-05. For educational purposes only; not investment advice.