Fortive Corporation (FTV) Monthly Report
Publication Date: September 22, 2024
Company Overview
Fortive Corporation (NYSE: FTV), based in Everett, Washington, is a leading global provider of professional and engineered products, software, and services, primarily operating within the technology sector. The company is structured into three main segments: Intelligent Operating Solutions, focusing on efficiency in manufacturing and healthcare; Precision Technologies, which encompasses electrical test and measurement along with sensing technologies; and Advanced Healthcare Solutions, dedicated to improving clinical workflows and patient safety. With a robust revenue of approximately $6.16 billion, Fortive demonstrates solid financial health, positioning it well for future growth and investment opportunities. Analysts recommend a “buy,” reflecting confidence in the company’s performance within an evolving market landscape.
Stock Performance and Market Sentiment
As of now, Fortive’s stock is trading at $76.34, which is positioned between its 52-week high of $87.10 and low of $63.05. This valuation indicates relative stability and growth potential in the wake of market fluctuations. The current price is notably above the fifty-day moving average of $72.45, suggesting a bullish trend in the near term. Analysts have set a target high price of $94.00, with a mean price target of $84.80, indicating optimism about Fortive’s valuation trajectory. With 350,342,016 shares outstanding and only 2,613,061 shares shorted (approximately 0.0084%), the short interest reflects a cautious market sentiment, pointing towards a positive outlook for the company.
Analyst Consensus and Investment Opportunity
The investment landscape for Fortive Corporation is characterized by a target price range of $67.00 to $94.00. The consensus among analysts—16 in total—yields a recommendation mean value of 2.2, equivalent to a “buy.” Such a rating underscores the belief among financial experts regarding Fortive’s growth prospects. The company’s financial metrics, highlighting a total revenue generation of approximately $6.155 billion, bolster the argument for potential investment, even though specific EBITDA data remains unavailable. Collectively, these insights contribute to Fortive’s standing as an appealing option for investors seeking to capitalize on a promising market opportunity.
| Metric | Value |
|---|---|
| Market Cap | $26.7b |
| Total Debt | $3.9b |
| Total Cash | $644.1m |
| Shares Outstanding | 350.3m |
| Float Shares | 348.7m |
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