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Danaher (DHR) reported fourth quarter earnings of 80 cents a share before the market opened today, April 19. That was 3 cents a share ahead of Wall Street projections. Revenue climbed 10.9% year over year to $5.09 billion. The Wall Street consensus called for $4.97 billion in revenue.

For the upcoming first quarter (March) Danaher told analyst to expect earnings near the top end of a range of 90 cents to 93 cents a share vs. the 93 cents a share consensus among analysts. For all of fiscal 2018 the company expects earnings of $4.2 to $4.35 a share against Wall Street projection for $4.35 a share.

The stock is down slightly today–closing off 0.88% at $101.32–on selling on the earnings beat without an increase in guidance.

I added Danaher to my Jubak Picks portfolio back on June 20, 2017 as a play on the need for purer water for industrial purposes in sectors such as biotech.

The stock has recently moved above my target price $99 a share. On today’s results (and news that Danaher continues to build up its business in biotech tools with the acquisition of IDT, a privately-held provider of consumables for genomics applications and next generation sequencing) I’m raising my target price to $110 a share.

The stock is up 18.25% since I added it to the Jubak Picks portfolio.