Zacks Investment Research Lowers Danaher (DHR) to Hold

Danaher (NYSE:DHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, December 19th.

According to Zacks, “Over the past six months, Danaher has outperformed the industry average. We are optimistic about the company’s core revenue and earnings growth, on the back of improving order trends and its operating culture, DBS. Going forward, the company expects the biopharma business to be a major growth driver. 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, on the flip side, sluggish economic conditions across key operating regions and unfavorable currency translations pose as threats. Especially, 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.”

A number of other brokerages also recently commented on DHR. Credit Suisse Group reiterated a “hold” rating and set a $99.00 price objective on shares of Danaher in a research report on Tuesday, December 19th. Robert W. Baird reiterated a “buy” rating and set a $99.00 price objective on shares of Danaher in a research report on Friday, December 15th. Citigroup lifted their price objective on Danaher to $107.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Morgan Stanley lifted their price objective on Danaher from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $95.00 price objective on shares of Danaher in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $94.91.

Shares of Danaher (NYSE:DHR) traded up $0.80 during mid-day trading on Tuesday, reaching $99.39. The company’s stock had a trading volume of 1,875,557 shares, compared to its average volume of 2,300,000. The stock has a market capitalization of $69,140.00, a P/E ratio of 29.58, a P/E/G ratio of 2.14 and a beta of 1.03. Danaher has a 52 week low of $78.97 and a 52 week high of $99.66. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.42.

Danaher (NYSE:DHR) last released its earnings results on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. Danaher had a return on equity of 11.29% and a net margin of 13.36%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. equities research analysts anticipate that Danaher will post 3.99 EPS for the current year.

In related news, Director Donald J. Ehrlich sold 10,578 shares of Danaher stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total value of $960,693.96. Following the completion of the transaction, the director now directly owns 104,621 shares in the company, valued at $9,501,679.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of Danaher stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.64, for a total value of $11,671,620.96. Following the completion of the transaction, the chief executive officer now owns 271,737 shares of the company’s stock, valued at $25,173,715.68. The disclosure for this sale can be found here. Insiders sold 273,810 shares of company stock valued at $25,218,813 over the last ninety days. Insiders own 12.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. lifted its holdings in Danaher by 0.4% during the 2nd quarter. National Asset Management Inc. now owns 3,767 shares of the conglomerate’s stock worth $318,000 after buying an additional 14 shares during the last quarter. First Financial Corp IN lifted its holdings in shares of Danaher by 0.8% in the 2nd quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock valued at $230,000 after purchasing an additional 21 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Danaher by 0.4% in the 2nd quarter. Brighton Jones LLC now owns 5,159 shares of the conglomerate’s stock valued at $435,000 after purchasing an additional 21 shares during the last quarter. Buckingham Asset Management LLC lifted its holdings in shares of Danaher by 0.4% in the 2nd quarter. Buckingham Asset Management LLC now owns 5,778 shares of the conglomerate’s stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. Finally, Simmons Bank lifted its holdings in shares of Danaher by 0.4% in the 2nd quarter. Simmons Bank now owns 7,160 shares of the conglomerate’s stock valued at $604,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 76.05% of the company’s stock.

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About Danaher

Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.

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