Danaher Corp. (DHR) Upgraded to Buy at Zacks Investment Research
Danaher Corp. (NYSE:DHR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $86.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.52% from the company’s current price.
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 – Danaher Business System. Going forward, its diligent acquisition strategies look promising. On Jul 2, the company completed the Fortive spin-off which will help it channelize 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 weighed in on the stock. Evercore ISI reaffirmed a “buy” rating and issued a $89.00 price target on shares of Danaher Corp. in a research note on Wednesday, October 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $90.00 price target on shares of Danaher Corp. in a research note on Thursday, October 6th. Vetr raised shares of Danaher Corp. from a “hold” rating to a “buy” rating and set a $81.69 price target for the company in a research note on Monday, September 12th. Jefferies Group reaffirmed a “buy” rating on shares of Danaher Corp. in a research note on Thursday, September 8th. Finally, Barclays PLC upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Danaher Corp. has an average rating of “Buy” and an average target price of $92.87.
Danaher Corp. (NYSE:DHR) traded up 0.79% during mid-day trading on Wednesday, reaching $77.03. 920,406 shares of the company’s stock traded hands. The company has a 50-day moving average of $77.85 and a 200-day moving average of $76.92. The company has a market capitalization of $53.19 billion, a price-to-earnings ratio of 15.32 and a beta of 1.13. Danaher Corp. has a 52-week low of $61.60 and a 52-week high of $82.64.
Danaher Corp. (NYSE:DHR) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The company earned $5.80 billion during the quarter, compared to analyst estimates of $5.76 billion. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. Equities research analysts expect that Danaher Corp. will post $3.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 0.65%. Danaher Corp.’s dividend payout ratio (DPR) is 9.94%.
In related news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the company’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 completion of the sale, the insider now directly owns 179,054 shares of the company’s stock, valued at approximately $14,582,157.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel L. Comas sold 96,446 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was 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 of the company’s stock, valued at $17,447,110.08. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC increased 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. increased 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. Wealthcare Capital Management LLC purchased a new stake in Danaher Corp. during the second quarter valued at about $144,000. Finally, Motco increased its stake in Danaher Corp. by 6.8% in the second quarter. Motco now owns 1,585 shares of the company’s stock valued at $160,000 after buying an additional 101 shares in the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
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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