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EVERETT, Wash. - Fortive Corporation (NYSE: NYSE:FTV), a global provider of essential technologies for connected workflow solutions with a market capitalization of $27.13 billion, announced today the appointment of Gregory Moore, M.D., Ph.D., to its Board of Directors, effective immediately. Dr. Moore’s appointment increases the board’s membership from nine to ten. According to InvestingPro data, Fortive maintains impressive gross profit margins of nearly 60% and currently trades slightly below its Fair Value.
Dr. Moore, a recognized leader in healthcare and technology, brings over two decades of experience to the board, having held significant roles at Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOGL). His expertise in AI, digital transformation, and healthcare is expected to support Fortive’s strategic growth initiatives, particularly in AI-powered solutions. The company has demonstrated solid financial performance, generating $6.23 billion in revenue over the last twelve months. InvestingPro analysis reveals multiple growth opportunities ahead, with additional insights available in the comprehensive Pro Research Report covering over 1,400 US stocks.
In addition to his new board role, Dr. Moore will serve on the Compensation Committee and the Nominating and Governance Committee. His background includes board certification in Diagnostic Radiology, Neuroradiology, and Clinical Informatics. He has also served as Corporate Vice President of Microsoft Health & Life Sciences, and prior to that, as Vice President and Founder of Google Cloud Healthcare & Life Sciences.
Shar Dubey, Chair of the Board, expressed enthusiasm for Dr. Moore’s appointment, citing his extensive experience as a valuable asset during a pivotal time in Fortive’s development. Dr. Moore’s appointment is seen as a strategic move to enhance the company’s innovation and growth strategies.
James A. Lico, CEO of Fortive, highlighted Dr. Moore’s record in revolutionizing healthcare through innovative technologies as a key reason for his addition to the board. Olumide Soroye, President and CEO of Fortive’s Intelligent Operating Solutions and Advanced Healthcare Solutions segments, also welcomed Dr. Moore, emphasizing his alignment with Fortive’s purpose and his potential to accelerate the company’s strategic execution.
Fortive, headquartered in Everett, Washington, operates across various end-markets, employing more than 18,000 people globally. The company’s commitment to continuous improvement is central to its business model, aiming to enhance safety and productivity with its technologies. InvestingPro data shows the company maintains a healthy financial position with moderate debt levels and strong cash flow generation, earning an overall "GOOD" financial health rating. For detailed financial metrics and additional ProTips, investors can access the full InvestingPro Research Report.
The information in this article is based on a press release statement from Fortive Corporation.
In other recent news, Fortive Corporation’s fourth-quarter earnings report revealed mixed results, with revenue slightly missing analyst estimates at $1.62 billion compared to the expected $1.63 billion. Despite this, the company reported an adjusted earnings per share (EPS) of $1.17, surpassing the consensus estimate of $1.12. Fortive’s guidance for 2025 projects revenue between $6.23 billion and $6.35 billion, which is below Wall Street’s projection of $6.47 billion. The company also anticipates adjusted EPS for 2025 to range from $4.00 to $4.12, slightly under the consensus of $4.12.
Analyst firms have adjusted their outlooks accordingly, with RBC Capital Markets raising Fortive’s price target to $85 while maintaining a Sector Perform rating. Meanwhile, Raymond (NSE:RYMD) James increased its price target to $90, retaining an Outperform rating, citing Fortive’s strong organic growth and upcoming spin-off as positive factors. The planned separation of Fortive’s Precision Technologies segment into a new company, Ralliant, is now expected to occur in the third quarter of 2025, earlier than initially planned. Despite challenges in the Chinese market, Fortive demonstrated strong order growth and robust free cash flow conversion in the fourth quarter. The company’s share repurchase activity also increased, with 10 million shares bought back, accounting for 82% of its free cash flow.
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