Danaher Corp. (DHR) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Danaher Corp. (NYSE:DHR) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $86.00 price target on the stock.
According to Zacks, “Danaher has a decent earnings surprise history, beating estimates thrice, over the trailing four quarters. Of late, the company has been witnessing core revenue growth, margin expansion and earnings improvement, backed by its operating culture – DBS. Going forward, its diligent acquisition strategies look promising. On Jul 2, the company completed the Fortive spin-off which is expected to help the company focus on channelizing resources to core business areas and improve growth, margins and cash flow over the long haul. Also, the company recently declared the buyout of California-based Cepheid to fortify its presence in the molecular diagnostics market. Moreover, Danaher's successful product launches coupled with thriving dental and healthcare businesses signal at bright prospects ahead. However, sluggish economic conditions across some key operating regions and unfavorable currency translations pose as significant headwinds.”
A number of other analysts have also recently weighed in on DHR. Credit Suisse Group AG reaffirmed a hold rating on shares of Danaher Corp. in a research note on Saturday, July 9th. Citigroup Inc. boosted their target price on shares of Danaher Corp. from $102.00 to $104.00 and gave the stock a neutral rating in a research note on Monday, June 13th. Jefferies Group reaffirmed a buy rating and set a $92.00 target price (down previously from $105.00) on shares of Danaher Corp. in a research note on Friday, July 15th. Barclays PLC boosted their target price on shares of Danaher Corp. from $90.00 to $91.00 and gave the stock an overweight rating in a research note on Wednesday, September 7th. Finally, Sanford C. Bernstein reaffirmed a hold rating and set a $112.00 target price on shares of Danaher Corp. in a research note on Monday, June 13th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $93.98.
Shares of Danaher Corp. (NYSE:DHR) traded down 0.20% during mid-day trading on Tuesday, hitting $77.35. The company’s stock had a trading volume of 548,377 shares. The stock has a market cap of $53.41 billion, a PE ratio of 15.38 and a beta of 1.13. The company has a 50-day moving average price of $79.46 and a 200-day moving average price of $76.32. Danaher Corp. has a 1-year low of $61.60 and a 1-year high of $82.64.
Danaher Corp. (NYSE:DHR) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. Analysts predict that Danaher Corp. will post $3.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, September 28th. Danaher Corp.’s payout ratio is currently 12.72%.
In related news, CFO Daniel L. Comas sold 96,446 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the sale, the chief financial officer now directly owns 215,716 shares in the company, valued at approximately $17,447,110.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the sale, the insider now owns 179,054 shares in the company, valued at $14,582,157.76. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Global X Management Co. LLC boosted its stake in Danaher Corp. by 83.4% in the second quarter. Global X Management Co. LLC now owns 1,080 shares of the company’s stock valued at $109,000 after buying an additional 491 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in Danaher Corp. by 15.3% in the second quarter. Thompson Davis & CO. Inc. now owns 1,284 shares of the company’s stock valued at $130,000 after buying an additional 170 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Danaher Corp. during the second quarter valued at about $132,000. Monetary Management Group Inc. boosted its stake in Danaher Corp. by 366.7% in the first quarter. Monetary Management Group Inc. now owns 1,400 shares of the company’s stock valued at $133,000 after buying an additional 1,100 shares in the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in Danaher Corp. during the second quarter valued at about $144,000. Institutional investors own 75.74% of the company’s stock.
About Danaher Corp.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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