Jim Cramer on Danaher: "I Think We've Finally Reached the Tipping Point"

Danaher Corporation (NYSE:DHR) is one of the stocks Jim Cramer shed light on. While discussing the stock’s condition over the past couple of years, Cramer showed a positive sentiment toward the stock, as he said:

“Now, we bought this one in early 2022… I expected the business to stabilize and the stock to make a comeback like that. But for one reason after another, Danaher never really found its footing… When Danaher reported on Tuesday morning, it almost gave me a heart attack because the stock immediately got clobbered. The company actually delivered a pretty good set of numbers, a healthy revenue beat, steady organic growth, and better than expected margins, all leading up to a 16-cent earnings beat off $1.64 basis. I like that…

… Putting aside China, I think there was far more good news than bad news in this quarter. For example, while all three of Danaher’s core segments reported better than expected results, their highest margin biotechnology segment led the way, that had 8% sales growth. That’s 150 basis points of operating margin expansion and operating income of more than 12%. Wow, that’s very good…

… Here’s the bottom line: It’s been very tough to be a bull on Danaher for the past couple of years, and the company’s still not perfect. But I think we’ve finally reached the tipping point here now that the core bioprocessing business is on the rebound. That’s why we’re sticking around for the Charitable Trust and why you have my blessing to pick up some of the stock right here.”

Danaher (NYSE:DHR) provides products and services used in biotechnology, life sciences, and diagnostics. The company’s technologies include lab instruments, bioprocessing tools, genomic products, and diagnostic systems for healthcare and research.

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Disclosure: None. This article is originally published at Insider Monkey.