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May 7, 2020, 8:53 a.m. EDT

Danaher's stock drops after launching offerings of $2.5 billion in equity securities

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By Tomi Kilgore

Shares of Danaher Corp. /zigman2/quotes/210555154/composite DHR +0.57% dropped 2.4% in premarket trading Thursday, after the medical and industrial products company said it launched offerings of $2.5 billion in equity securities. The offerings include $1.25 billion in shares of common stock and $1.25 billion in convertible preferred stock. The company expects to use the proceeds for general corporate purposes. Danaher's market capitalization was $114.28 billion as of Wednesday's stock closing price of $163.98. The stock, which closed at a record $169.51 on April 27, has gained 6.8% year to date through Wednesday, while the SPDR Health Care Select Sector ETF /zigman2/quotes/205918244/composite XLV -0.79% , of which Danaher is a component, has slipped 2.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.56% has declined 11.8%.

/zigman2/quotes/210555154/composite
US : U.S.: NYSE
$ 185.47
+1.05 +0.57%
Volume: 2.44M
July 9, 2020 4:02p
P/E Ratio
49.05
Dividend Yield
0.39%
Market Cap
$130.65 billion
Rev. per Employee
$280,183
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/zigman2/quotes/205918244/composite
US : U.S.: NYSE Arca
$ 100.95
-0.80 -0.79%
Volume: 10.52M
July 9, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,152.05
-17.89 -0.56%
Volume: 2.60B
July 9, 2020 5:11p
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