Danaher's (DHR) Cepheid Received FDA Emergency Use Authorization for COVID-19 Assay, Cowen Reiterates Outperform

Cowen analyst Doug Schenkel reiterated an Outperform rating and $170.00 price target on Danaher (NYSE: DHR) after Cepheid received FDA Emergency Use Authorization (EUA) for its COVID-19 assay. Cepheid is the first point-of-care (POC) COVID-19 test to receive EUA.

The analyst stated "We believe that Cepheid's COVID-19 assay has the fastest turnaround time and easiest workflow among current (and likely most future) COVID-19 assays with EUA. While Cepheid's throughput is lower than higher volume system such as Hologic's Panther Fusion and Roche's cobas 6800/8800 systems, we note that Cepheid has a much larger instrument installed base and can test in near patient settings - this should increase access to COVID-19 testing in the US".

For an analyst ratings summary and ratings history on Danaher click here. For more ratings news on Danaher click here.

Shares of Danaher closed at $135.94 yesterday.

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