Fortive Corp Stock Price, News & Analysis

Fortive Corporation (NYSE: FTV) reported strong financial performance for 2021, with net earnings of $614 million and revenues of $5.25 billion, reflecting a 13.4% increase year-over-year. The company achieved core revenue growth of 9.5% and an operating profit margin expansion of 210 basis points. For Q4, revenues rose to $1.37 billion, with GAAP EPS of $0.46 and adjusted EPS of $0.79, up 13% from the previous year. Looking ahead, Fortive anticipates 2022 adjusted EPS between $3.00 and $3.13, driven by strong demand and recent acquisitions.

Fortive Corporation (NYSE: FTV) has declared a quarterly cash dividend of $0.07 per share, scheduled for March 25, 2022. Stockholders of record as of February 25, 2022 will receive this payment. Fortive aims to maintain quarterly dividends, subject to its Board of Directors' discretion. The company operates across multiple sectors including Intelligent Operating Solutions and Precision Technologies, employing over 18,000 people globally.

Censis Technologies announces the retirement of CEO Randy Smith, effective March 31, 2022. Smith has led the company since 2006, establishing it as a leader in surgical asset management solutions in the U.S. Ankush Kaul will succeed him as President on January 18. Kaul, previously with Setra Systems and affiliated with Fortive, expresses excitement about continuing Censis's innovation and growth. Censis provides SaaS solutions aimed at improving operational efficiency in healthcare settings, with over 1,300 hospitals using its CensiTrac® technology.

Fortive Corporation (NYSE: FTV) will host its fourth quarter 2021 earnings conference call on February 3, 2022, at 12:00 p.m. ET. The call will last approximately 1 hour and can be accessed via the company’s website or by phone. A replay will be available two hours after the call until February 16, 2022. Fortive is currently in a quiet period, refraining from interactions with investors until the earnings release. The company specializes in connected workflow solutions across various markets and employs over 18,000 people globally.

Fortive Corporation (NYSE: FTV) has successfully completed its acquisition of Provation Software, Inc., integrating it into its Advanced Healthcare Solutions segment. CEO James A. Lico highlighted that this acquisition will enhance workflow solutions for healthcare facilities, improving patient care efficiency. With Provation’s established clinical software and customer base, Fortive anticipates significant growth opportunities and better cash flow generation. The deal is expected to bolster Fortive's position in the healthcare sector, aligned with its strategic goals.

Clearlake Capital has announced the sale of Provation, a provider of SaaS-based clinical productivity solutions, to Fortive (NYSE: FTV). The transaction is expected to close by year-end 2021. Clearlake, which acquired Provation in March 2018, has significantly expanded its operations, resulting in double-digit organic revenue growth and doubled adjusted EBITDA over three years. Provation now serves over 5,000 healthcare systems, including 19 of the top 20 U.S. hospitals. Fortive aims to integrate Provation's expertise into its Advanced Healthcare Solutions segment.

Fortive has announced the acquisition of Provation Software for $1.425 billion, enhancing its Advanced Healthcare Solutions segment. This strategic move is poised to accelerate Fortive's position in critical workflow solutions for hospitals and ASCs. Provation, anticipated to post $110 million in revenue for 2021, serves over 5,000 customers. The acquisition expects double-digit revenue growth and over $0.08 accretion to adjusted EPS in fiscal 2022, with 70% of revenue recurring. This partnership is expected to broaden growth opportunities and enhance patient care.

Fortive Corporation has appointed Wright Lassiter III as a director, effective January 1, 2022. Lassiter, currently the President and CEO of Henry Ford Health System, brings nearly three decades of healthcare leadership experience. His expertise is anticipated to enhance Fortive's strategic direction, particularly in its Advanced Healthcare Solutions segment, as stated by CEO James A. Lico. Lassiter's background includes a role as chair-elect of the AHA Board and directorships at Quest Diagnostics and DT Midstream.

Fortive Corporation (NYSE: FTV) has appointed Elena Rosman as Vice President of Investor Relations, effective November 29, 2021. With over ten years of experience in investor relations at Aptiv and Honeywell, Rosman will report to Chuck McLaughlin, Fortive’s CFO. Her role involves leading investor relations initiatives and enhancing communication about Fortive's strategic vision and shareholder value. Current VP Griffin Whitney will assist during the transition before moving to a new role in corporate development. This move is part of Fortive's strategy to strengthen its leadership team.