Underweight rating on DHR calls for trimming to 50-60% of benchmark weight (toward the lighter end) given an 11% single-day crash following a "beat-and-raise" quarter, with revenue growth of only +5.5% masking acquisition-accounting EPS optics; sell rallies into $207-$209 rather than waiting for $210.64 Bollinger resistance, set stop at $213 (~1.2x ATR), and hedge 30-40% of remaining position with March 2027 $190-strike puts. Re-evaluate toward Hold/Overweight only on clean breakout above $210.64 on >5M volume, confirmed Q3 bioprocessing reacceleration, or credible CEO strategic vision on October 1.