By: Scott Davis
We’ve had a Buy rating of some sorts on DHR for a dozen years or so and obviously no regrets there. But each of those years there have been debates on the stock that led to insecurities. More recently that concern was related to core growth – more specifically – can DHR match up with more cyclical peers on the top-line. For example, the obvious question – can DHR match up with similarly valued names with more cyclicality – like 3M, like Rockwell Automation, ITW, etc. Today’s 5.5% core growth number puts DHR right on top of those peers – despite less cyclical tailwinds. That’s very encouraging.