Zacks Investment Research upgraded shares of Danaher (NYSE:DHR) from a hold rating to a buy rating in a research note published on Thursday. The brokerage currently has $112.00 target price on the conglomerate’s stock.
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. This apart, the company’s continuous introduction of products enables it to penetrate new markets and gain competitive edge in existing ones. Over the past six months, the stock has outperformed the industry average. 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.”
A number of other equities analysts also recently issued reports on DHR. Credit Suisse Group increased their target price on Danaher from $106.00 to $108.00 and gave the stock an outperform rating in a research note on Tuesday, March 13th. Deutsche Bank cut their target price on Danaher from $114.00 to $107.00 and set a buy rating for the company in a research note on Thursday, March 1st. Royal Bank of Canada reissued a hold rating and set a $98.00 target price on shares of Danaher in a research note on Wednesday, January 31st. Stifel Nicolaus reissued a buy rating and set a $110.00 target price on shares of Danaher in a research note on Friday, January 19th. Finally, Morgan Stanley increased their target price on Danaher from $103.00 to $110.00 and gave the stock an overweight rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $102.23.
Danaher stock traded up $0.18 on Thursday, reaching $97.67. The company’s stock had a trading volume of 784,220 shares, compared to its average volume of 2,551,211. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The stock has a market cap of $69,624.41, a P/E ratio of 27.62, a PEG ratio of 2.10 and a beta of 1.03. Danaher has a 12-month low of $78.97 and a 12-month high of $104.82.
Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, January 30th. The conglomerate reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.03. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.97 billion. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. analysts predict that Danaher will post 4.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Danaher’s previous quarterly dividend of $0.14. Danaher’s dividend payout ratio is currently 15.86%.
In related news, EVP William K. Daniel sold 131,066 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $102.05, for a total value of $13,375,285.30. Following the sale, the executive vice president now owns 270,523 shares in the company, valued at approximately $27,606,872.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel L. Comas sold 62,989 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $101.96, for a total value of $6,422,358.44. Following the completion of the sale, the chief financial officer now owns 227,805 shares in the company, valued at approximately $23,226,997.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,260 shares of company stock worth $31,657,786. Insiders own 12.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation grew its holdings in Danaher by 118.3% during the 3rd quarter. Zions Bancorporation now owns 1,231 shares of the conglomerate’s stock valued at $106,000 after buying an additional 667 shares during the last quarter. Patten Group Inc. grew its holdings in Danaher by 262.3% during the 3rd quarter. Patten Group Inc. now owns 4,830 shares of the conglomerate’s stock valued at $114,000 after buying an additional 3,497 shares during the last quarter. First Personal Financial Services grew its holdings in Danaher by 128.9% during the 4th quarter. First Personal Financial Services now owns 1,227 shares of the conglomerate’s stock valued at $114,000 after buying an additional 691 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Danaher during the 4th quarter valued at $114,000. Finally, CNB Bank acquired a new stake in Danaher during the 4th quarter valued at $116,000. Institutional investors and hedge funds own 77.64% 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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