Zacks Investment Research upgraded shares of Danaher Corp. (NYSE:DHR) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The firm currently has $86.00 price objective on the stock.
According to Zacks, “Danaher has a decent earnings surprise history, beating estimates thrice, over the trailing four quarters. Of late, the company has been witnessing core revenue growth, margin expansion and earnings improvement, backed by its operating culture – DBS. Going forward, its diligent acquisition strategies look promising. On Jul 2, the company completed the Fortive spin-off which is expected to help the company focus on channelizing resources to core business areas and improve growth, margins and cash flow over the long haul. Also, the company recently declared the buyout of California-based Cepheid to fortify its presence in the molecular diagnostics market. Moreover, Danaher's successful product launches coupled with thriving dental and healthcare businesses signal at bright prospects ahead. However, sluggish economic conditions across some key operating regions and unfavorable currency translations pose as significant headwinds.”
A number of other research firms have also recently commented on DHR. Goldman Sachs Group Inc. began coverage on shares of Danaher Corp. in a report on Tuesday, July 5th. They issued a neutral rating and a $74.00 price target on the stock. Sanford C. Bernstein upgraded shares of Danaher Corp. from a market perform rating to an outperform rating and set a $120.00 target price on the stock in a report on Thursday, June 23rd. JPMorgan Chase & Co. reiterated a buy rating and set a $105.00 target price on shares of Danaher Corp. in a report on Thursday, June 30th. Citigroup Inc. increased their target price on shares of Danaher Corp. from $102.00 to $104.00 and gave the stock a neutral rating in a report on Monday, June 13th. Finally, Barclays PLC reiterated an overweight rating and set a $105.00 target price on shares of Danaher Corp. in a report on Monday, June 27th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Danaher Corp. presently has a consensus rating of Buy and an average target price of $93.98.
Danaher Corp. (NYSE:DHR) traded down 0.20% during mid-day trading on Tuesday, reaching $77.35. 548,377 shares of the company’s stock traded hands. The company has a market cap of $53.41 billion, a P/E ratio of 15.38 and a beta of 1.13. The stock has a 50 day moving average of $79.46 and a 200 day moving average of $76.32. Danaher Corp. has a 12-month low of $61.60 and a 12-month high of $82.64.
Danaher Corp. (NYSE:DHR) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.03. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. On average, equities research analysts predict that Danaher Corp. will post $3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.64%. Danaher Corp.’s payout ratio is 12.72%.
In other news, CFO Daniel L. Comas sold 96,446 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the sale, the chief financial officer now owns 215,716 shares of the company’s stock, valued at approximately $17,447,110.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the sale, the insider now directly owns 179,054 shares in the company, valued at approximately $14,582,157.76. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Danaher Corp. by 83.4% in the second quarter. Global X Management Co. LLC now owns 1,080 shares of the company’s stock worth $109,000 after buying an additional 491 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Danaher Corp. by 15.3% in the second quarter. Thompson Davis & CO. Inc. now owns 1,284 shares of the company’s stock worth $130,000 after buying an additional 170 shares during the last quarter. Cribstone Capital Management LLC purchased a new stake in shares of Danaher Corp. during the second quarter worth approximately $132,000. Monetary Management Group Inc. boosted its stake in shares of Danaher Corp. by 366.7% in the first quarter. Monetary Management Group Inc. now owns 1,400 shares of the company’s stock worth $133,000 after buying an additional 1,100 shares during the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in shares of Danaher Corp. during the second quarter worth approximately $144,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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