Danaher Corp (DHR)

Danaher (DHR) dropped by 13.85% from $248.10 to $213.74 in the trading on Monday October 2, 2023. The reasons why stock DHR is down today includes:

• Spinoff of Veralto: Danaher completed the spinoff of its environmental and applied solutions segment, Veralto, on October 2, 2023. This spinoff reduced the size and scope of Danaher's business, and it is possible that some investors are selling their DHR shares as a result.
• Concerns about COVID-related product demand: Danaher has been making a lot of money from selling products related to COVID-19. But now, the demand for these products is going down, and this is probably causing Danaher's stock price to go down.
• Downgrade: DHR stock down is also due to a reduction in the target price by Leerink Partners, downgrading it from $290 to $230.