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We recently published a list of These 10 Stocks Were Wednesday’s Worst Performers. In this article, we are going to take a look at where Danaher Corporation (NYSE:DHR) stands among Wednesday’s worst-performing stocks.
The stock market declined on Wednesday, with all major indices finishing in the red, driven by losses in technology stocks.
The Nasdaq dropped 0.51%, while the S&P 500 and Dow Jones fell 0.47% and 0.31%, respectively.
Ten companies, mostly from the technology sector, led the downturn. In this article, we will highlight the biggest decliners and examine the factors driving their performance.
To identify Wednesday’s biggest losers, we focused on stocks with a market capitalization of at least $2 billion and a daily trading volume of over $5 million.
A healthcare professional in a lab coat holding a microscope and looking at a slide under the lens.
Danaher Corporation (NYSE:DHR)
Conglomerate Danaher Corporation (NYSE:DHR) saw its share prices drop by 9.65 percent on Wednesday to finish at $223.73 apiece after missing earnings per share expectations for the first time in years, having settled at $2.14 versus the $2.16 projection.
In addition, Danaher (NYSE:DHR) posted a bearish outlook for the first quarter of the year, anticipating a low single-digit drop in revenues at $5.6 billion as compared with analysts’ expectations of $5.9 billion. However, full-year earnings are projected to inch up by 3 percent year-on-year.
Despite the numbers, Danaher Corp. Chief Executive Officer Rainer Blair said that the company remains hopeful amid resilient order trends in bioprocessing and market share growth in molecular diagnostics.
Overall, DHR ranks 4th on our list of Wednesday’s worst-performing stocks. While we acknowledge the potential of DHR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DHR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.