Danaher (DHR) Downgraded by Zacks Investment Research to “Hold”

Danaher (NYSE:DHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Danaher has an excellent earnings history over the trailing four quarters, beating estimates all through. We are optimistic about the company’s core revenue and earnings growth, on the back of improving order trends and its operating culture, DBS. Its recent acquisitions – Pall and Cepheid – are proving to be strong profit churners, and will boost top-line growth as they become a part of the company’s core revenues. However, slowdown in the company’s academic business in Europe and prolonged sluggishness in the Dental business might restrict growth, going forward. Moreover, weakness in industrial markets and stiff competition may also hurt the company's financials. This apart, the company remains highly vulnerable to adverse foreign currency translations, as a significant portion of its revenues is derived from regions outside the United States.”

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A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group boosted their price objective on shares of Danaher from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, March 13th. Deutsche Bank lowered their price objective on shares of Danaher from $114.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, March 1st. Barclays began coverage on shares of Danaher in a report on Thursday, February 15th. They issued an “overweight” rating and a $110.00 price objective for the company. Argus boosted their price objective on shares of Danaher from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Royal Bank of Canada restated a “hold” rating and issued a $98.00 price objective on shares of Danaher in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $102.23.

Danaher (DHR) traded up $1.04 during mid-day trading on Monday, reaching $96.98. 664,946 shares of the company’s stock were exchanged, compared to its average volume of 2,548,195. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. Danaher has a fifty-two week low of $78.97 and a fifty-two week high of $104.82. The stock has a market cap of $66,924.81, a PE ratio of 27.43, a PEG ratio of 2.01 and a beta of 1.03.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, January 30th. The conglomerate reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. Danaher had a net margin of 13.60% and a return on equity of 11.36%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. sell-side analysts forecast that Danaher will post 4.38 earnings per share for the current fiscal year.

In other Danaher news, SVP Angela S. Lalor sold 42,988 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $102.29, for a total value of $4,397,242.52. Following the completion of the transaction, the senior vice president now directly owns 82,008 shares in the company, valued at approximately $8,388,598.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William K. Daniel sold 131,066 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $102.05, for a total transaction of $13,375,285.30. Following the completion of the transaction, the executive vice president now owns 270,523 shares of the company’s stock, valued at $27,606,872.15. The disclosure for this sale can be found here. Insiders have sold a total of 313,260 shares of company stock valued at $31,657,786 over the last quarter. 12.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. North American Management Corp raised its holdings in Danaher by 0.4% in the 4th quarter. North American Management Corp now owns 123,093 shares of the conglomerate’s stock worth $11,426,000 after purchasing an additional 512 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in Danaher by 0.3% in the 4th quarter. Chesley Taft & Associates LLC now owns 161,450 shares of the conglomerate’s stock worth $14,986,000 after purchasing an additional 519 shares in the last quarter. FTB Advisors Inc. raised its holdings in Danaher by 14.9% in the 4th quarter. FTB Advisors Inc. now owns 4,064 shares of the conglomerate’s stock worth $386,000 after purchasing an additional 528 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Danaher by 4.3% in the 4th quarter. D.A. Davidson & CO. now owns 13,374 shares of the conglomerate’s stock worth $1,241,000 after purchasing an additional 548 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in Danaher by 10.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,077 shares of the conglomerate’s stock worth $562,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 77.66% of the company’s stock.

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Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.

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