Danaher to Buy Sybron Dental

Wow. I didn’t see this one coming.
Sybron Dental (SYD) is a great company. As the name suggests, they make products for the dental profession. I always knew this was a profitable sector, but the stock I prefered to track was Patterson (PDCO). Of course, if Patterson could make dental supplies and pet supplies, I supposed Danaher, a tool company, can buy a dental supplier.
Here are Sybron’s sales and EPS for the past few years.
Year……….Sales………….EPS
2000………$418.8……….$0.87
2001………$439.5……….$1.07
2002………$456.7……….$0.90
2003………$526.4……….$1.46
2004………$574.0……….$1.54
2005………$649.7……….$1.85
Danaher (DHR) is paying $47 a share, which is a 12% premium. It’s also about 26 times this year’s estimate of $1.82 a share.
Danaher also said that first-quarter earnings will be slightly above the high-end of its forecast of 61 to 64 cents a share. The company said that sales for the first quarter were $2.14 billion, which was above the Street’s estimate of $2.08 billion.
Shares of DHR are up this morning to a new 52-week high. I love it when a plan comes together.

Posted by on April 12th, 2006 at 9:46 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.