Medical tool makers fall after Danaher cuts growth expectations for unit

Repligen

24/01/2023 18:53

** Shares of major medical equipment and biological reagent
developers fall after market leader Danaher Corp  DHR.N  reduced
full-year expectations for its non-COVID biological tools unit
    ** DHR now sees non-COVID bioprocessing up at high single
digit in 2023 vs. prior expectation of high single digit to
mid-teens
    ** Brokerage SVB Securities says DHR's "prudent full-year
forecast should help to reset the expectations for the
bioprocess market given the company's leading position" 
    ** DHR shares fall 3.2% to $268.21
    ** Shares of medical equipment maker Thermo Fisher
Scientific Inc  TMO.N  fall 4.2% to $579.25, and peer Repligen
Corp  RGEN.O  fall 5% to $181.16 
    ** Including session moves, DHR shares have fallen ~3%, TMO
has risen ~1% and RGEN has fallen ~4% in the past 12 months 
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))