Jefferies Group Equities Analysts Increase Earnings Estimates for Danaher Corp. (DHR)
Danaher Corp. (NYSE:DHR) – Equities research analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for Danaher Corp. in a research note issued on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the firm will post earnings of $4.35 per share for the year, up from their prior estimate of $4.30. Jefferies Group currently has a “Buy” rating on the stock.
Danaher Corp. (NYSE:DHR) last issued its earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ 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 earned $5.80 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis.
Other equities analysts have also issued reports about the stock. Argus reissued a “buy” rating and issued a $90.00 target price (down from $110.00) on shares of Danaher Corp. in a report on Thursday, July 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $105.00 target price on shares of Danaher Corp. in a report on Thursday, June 30th. Morgan Stanley reissued a “buy” rating and issued a $86.00 target price on shares of Danaher Corp. in a report on Wednesday, August 31st. Vetr upgraded shares of Danaher Corp. from a “hold” rating to a “buy” rating and set a $81.69 price target on the stock in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of Danaher Corp. from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, September 27th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.87.
Shares of Danaher Corp. (NYSE:DHR) traded down 0.07% during midday trading on Thursday, reaching $76.16. 3,214,376 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $78.28 and a 200-day moving average price of $76.77. Danaher Corp. has a 52-week low of $61.60 and a 52-week high of $82.64. The stock has a market cap of $52.59 billion, a P/E ratio of 15.15 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders 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 annualized dividend and a dividend yield of 0.66%. Danaher Corp.’s dividend payout ratio is currently 9.94%.
In other Danaher Corp. news, CFO Daniel L. Comas sold 96,446 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 215,716 shares in the company, valued at approximately $17,447,110.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $14,582,157.76. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Danaher Corp. by 4.5% in the second quarter. Vanguard Group Inc. now owns 36,674,510 shares of the company’s stock worth $3,704,126,000 after buying an additional 1,586,751 shares during the period. FMR LLC raised its stake in shares of Danaher Corp. by 3.3% in the second quarter. FMR LLC now owns 35,987,650 shares of the company’s stock worth $3,634,752,000 after buying an additional 1,165,271 shares during the period. State Street Corp raised its stake in shares of Danaher Corp. by 0.6% in the first quarter. State Street Corp now owns 22,646,064 shares of the company’s stock worth $2,148,210,000 after buying an additional 129,215 shares during the period. Capital Research Global Investors raised its stake in shares of Danaher Corp. by 1.2% in the second quarter. Capital Research Global Investors now owns 10,131,602 shares of the company’s stock worth $1,023,292,000 after buying an additional 117,254 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Danaher Corp. by 9.6% in the second quarter. BlackRock Fund Advisors now owns 7,591,208 shares of the company’s stock worth $766,712,000 after buying an additional 662,349 shares during the period. Institutional investors and hedge funds 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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