Zacks Investment Research upgraded shares of Danaher (NYSE:DHR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $109.00 price objective 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 rising healthcare spending. 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 have also recently issued reports on DHR. Morgan Stanley lifted their target price on Danaher from $110.00 to $112.00 and gave the stock an overweight rating in a report on Tuesday. ValuEngine raised Danaher from a hold rating to a buy rating in a research report on Monday, April 2nd. Royal Bank of Canada reaffirmed a hold rating and issued a $98.00 target price on shares of Danaher in a research report on Wednesday, January 31st. Stifel Nicolaus reaffirmed a buy rating and issued a $110.00 target price on shares of Danaher in a research report on Friday, January 19th. Finally, Deutsche Bank decreased their target price on Danaher from $114.00 to $107.00 and set a buy rating for the company in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $102.18.
Shares of NYSE DHR opened at $99.18 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43. The firm has a market capitalization of $69,422.11, a P/E ratio of 24.42, a P/E/G ratio of 1.92 and a beta of 1.03. Danaher has a 52-week low of $78.97 and a 52-week high of $104.82.
Danaher (NYSE:DHR) last issued its earnings results on Tuesday, January 30th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. research analysts expect that Danaher will post 4.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, March 29th will be given a dividend of $0.16 per share. This is a boost from Danaher’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.65%. Danaher’s dividend payout ratio (DPR) is presently 15.88%.
In related news, EVP William K. Daniel sold 131,066 shares of Danaher 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 sale, the executive vice president now owns 270,523 shares of the company’s stock, valued at $27,606,872.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rainer Blair sold 3,981 shares of Danaher stock in a transaction on Monday, February 26th. The shares were sold at an average price of $100.05, for a total value of $398,299.05. Following the sale, the insider now directly owns 49,751 shares of the company’s stock, valued at approximately $4,977,587.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,260 shares of company stock valued at $31,657,786. Insiders own 11.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DHR. Vident Investment Advisory LLC bought a new position in Danaher during the third quarter valued at about $417,000. Zions Bancorporation raised its holdings in Danaher by 118.3% during the third quarter. Zions Bancorporation now owns 1,231 shares of the conglomerate’s stock valued at $106,000 after buying an additional 667 shares in the last quarter. Patten Group Inc. raised its holdings in Danaher by 262.3% during the third 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 in the last quarter. Sterling Capital Management LLC raised its holdings in Danaher by 17,148.4% during the third quarter. Sterling Capital Management LLC now owns 666,650 shares of the conglomerate’s stock valued at $57,185,000 after buying an additional 662,785 shares in the last quarter. Finally, Arthur Zaske & Associates LLC raised its holdings in Danaher by 40.8% during the third quarter. Arthur Zaske & Associates LLC now owns 4,225 shares of the conglomerate’s stock valued at $362,000 after buying an additional 1,225 shares in the last quarter. Institutional investors own 77.67% 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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