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Danaher (DHR) Acquires Abcam to Boost Life Sciences Segment

Danaher Corporation DHR 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.

Zacks Investment Research
Zacks Investment Research


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Stocks to Consider

Some better-ranked companies have been discussed below.

Federal Signal Corporation FSS 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 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 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 Stock Analysis Report

A. O. Smith Corporation (AOS) : Free Stock Analysis Report

ITT Inc. (ITT) : Free Stock Analysis Report

Federal Signal Corporation (FSS) : Free Stock Analysis Report

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Zacks Investment Research