Zacks Investment Research upgraded shares of Danaher (NYSE:DHR) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $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.”
Several other research firms have also recently commented on DHR. Citigroup boosted their target price on Danaher to $107.00 and gave the stock a buy rating in a research note on Friday, December 15th. Robert W. Baird reissued a buy rating on shares of Danaher in a research note on Friday, January 12th. Barclays started coverage on Danaher in a research note on Thursday, February 15th. They set an overweight rating and a $110.00 target price for the company. Royal Bank of Canada reissued a hold rating and set a $96.00 target price on shares of Danaher in a research note on Thursday, January 4th. Finally, Stifel Nicolaus boosted their target price on Danaher from $110.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Danaher currently has a consensus rating of Buy and a consensus price target of $102.23.
Danaher stock traded up $0.18 during mid-day trading on Thursday, hitting $97.67. The company had a trading volume of 784,220 shares, compared to its average volume of 2,551,211. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.43 and a quick ratio of 1.05. 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 52-week low of $78.97 and a 52-week high of $104.82.
Danaher (NYSE:DHR) last released its earnings results on Tuesday, January 30th. The conglomerate reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the firm posted $1.05 EPS. Danaher’s revenue for the quarter was up 10.9% on a year-over-year basis. sell-side analysts expect that Danaher will post 4.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders 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. This represents a $0.64 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, March 28th. Danaher’s dividend payout ratio is currently 15.86%.
In other news, CFO Daniel L. Comas sold 62,989 shares of the business’s stock in a transaction dated 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 directly owns 227,805 shares of the company’s stock, valued at approximately $23,226,997.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Angela S. Lalor sold 42,988 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 82,008 shares of the company’s stock, valued at $8,388,598.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,260 shares of company stock valued at $31,657,786. Insiders own 12.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Progressive Investment Management Corp lifted its holdings in shares of Danaher by 5.9% in the 4th quarter. Progressive Investment Management Corp now owns 37,108 shares of the conglomerate’s stock valued at $3,444,000 after purchasing an additional 2,074 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Danaher by 5.2% in the 3rd quarter. Prudential Financial Inc. now owns 2,628,584 shares of the conglomerate’s stock valued at $225,480,000 after purchasing an additional 130,621 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Danaher by 276.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,626,865 shares of the conglomerate’s stock valued at $225,332,000 after purchasing an additional 1,929,751 shares during the last quarter. Iberiabank Corp purchased a new stake in shares of Danaher in the 3rd quarter valued at about $381,000. Finally, QUANTRES ASSET MANAGEMENT Ltd lifted its holdings in shares of Danaher by 21.4% in the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 6,800 shares of the conglomerate’s stock valued at $631,000 after purchasing an additional 1,200 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
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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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