JPMorgan Chase & Co. Reiterates “Buy” Rating for Danaher Corp. (DHR)
Danaher Corp. (NYSE:DHR)‘s stock had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report issued on Thursday. They currently have a $90.00 target price on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 15.71% from the stock’s current price.
Several other brokerages have also recently issued reports on DHR. Citigroup Inc. raised their target price on shares of Danaher Corp. from $102.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, June 13th. Zacks Investment Research cut shares of Danaher Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Morgan Stanley restated a “buy” rating and issued a $86.00 target price on shares of Danaher Corp. in a report on Wednesday, August 31st. Barclays PLC restated an “overweight” rating and issued a $90.00 target price on shares of Danaher Corp. in a report on Wednesday, July 27th. Finally, Jefferies Group raised their target price on shares of Danaher Corp. from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.10.
Danaher Corp. (NYSE:DHR) traded up 0.5613% on Thursday, hitting $78.2166. 976,158 shares of the stock were exchanged. Danaher Corp. has a 12 month low of $61.60 and a 12 month high of $82.64. The company has a 50-day moving average of $78.87 and a 200 day moving average of $76.60. The firm has a market cap of $54.01 billion, a P/E ratio of 15.5562 and a beta of 1.13.
Danaher Corp. (NYSE:DHR) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts expect that Danaher Corp. will post $3.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.64%. Danaher Corp.’s payout ratio is currently 9.94%.
In other Danaher Corp. news, CFO Daniel L. Comas sold 96,446 shares of Danaher Corp. stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the completion of the transaction, the chief financial officer now directly owns 215,716 shares of the company’s stock, 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 Danaher Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the completion of the transaction, the insider now directly owns 179,054 shares of the company’s stock, valued at $14,582,157.76. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Dubuque Bank & Trust Co. boosted its position in shares of Danaher Corp. by 26.8% in the first quarter. Dubuque Bank & Trust Co. now owns 35,533 shares of the company’s stock worth $3,371,000 after buying an additional 7,501 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Danaher Corp. by 1.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 154,798 shares of the company’s stock worth $14,684,000 after buying an additional 2,586 shares in the last quarter. Ngam Advisors L.P. boosted its position in Danaher Corp. by 25.0% in the first quarter. Ngam Advisors L.P. now owns 156,838 shares of the company’s stock worth $14,877,000 after buying an additional 31,331 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Danaher Corp. by 17.9% in the first quarter. TIAA CREF Investment Management LLC now owns 2,701,241 shares of the company’s stock worth $256,240,000 after buying an additional 410,837 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in Danaher Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 871,843 shares of the company’s stock worth $82,703,000 after buying an additional 35,292 shares in the last quarter. 75.74% of the stock is owned by institutional investors and hedge funds.
Danaher Corp. Company Profile
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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