Danaher (NYSE:DHR) Trading Up 6.1% – Here’s What Happened

Danaher Corporation (NYSE:DHRGet Free Report) shot up 6.1% during trading on Thursday . The stock traded as high as $189.04 and last traded at $189.9960. Approximately 3,009,031 shares were traded during trading, a decline of 34% from the average daily volume of 4,535,836 shares. The stock had previously closed at $179.14.

Key Danaher News

Here are the key news stories impacting Danaher this week:

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DHR shares. Morgan Stanley decreased their price objective on shares of Danaher from $270.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Stifel Nicolaus cut their price target on Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday. HSBC decreased their price target on Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada increased their price objective on Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $228.91.

Get Our Latest Stock Analysis on DHR

Danaher Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The stock’s 50-day moving average is $184.49 and its 200 day moving average is $197.34. The stock has a market capitalization of $134.93 billion, a PE ratio of 33.91, a P/E/G ratio of 2.19 and a beta of 0.79.

Danaher (NYSE:DHRGet Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.06%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the previous year, the company earned $0.77 earnings per share. Danaher’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Danaher Corporation will post 8.49 earnings per share for the current year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher’s payout ratio is 30.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DHR. Main Street Group LTD purchased a new stake in Danaher in the first quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new position in shares of Danaher during the third quarter worth approximately $25,000. Elevated Capital Advisors LLC purchased a new position in shares of Danaher during the fourth quarter worth approximately $26,000. WFA of San Diego LLC acquired a new position in shares of Danaher in the 2nd quarter valued at $26,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Danaher in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Company Profile

(Get Free Report)

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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