Danaher Corporation (DHR) Rating Increased to Buy at Zacks Investment Research
Danaher Corporation (NYSE:DHR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $97.00 price target on the conglomerate’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.65% from the company’s previous close.
According to Zacks, “Year-to-date, Danaher’s shares have outperformed the industry’s average return. The company 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. Going forward, the company expects the biopharma business to be a major growth driver. 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. However, on the flip side, slowdown in the company’s academic business in Europe and prolonged sluggishness in the Dental business has restricted growth. Weakness in industrial markets and stiff competition may also hurt the company's financials.”
A number of other analysts have also recently weighed in on DHR. Cowen and Company reiterated a “buy” rating and set a $90.00 price target on shares of Danaher Corporation in a research report on Wednesday. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $83.00 price objective on shares of Danaher Corporation in a report on Tuesday, September 26th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $95.00 price objective on shares of Danaher Corporation in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Danaher Corporation in a research note on Friday, August 4th. Finally, BidaskClub lowered Danaher Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $92.44.
Danaher Corporation (NYSE DHR) traded down 0.2437% during midday trading on Thursday, reaching $86.6683. The company’s stock had a trading volume of 575,142 shares. The company has a 50 day moving average of $84.72 and a 200-day moving average of $84.16. Danaher Corporation has a 1-year low of $75.71 and a 1-year high of $88.62. The company has a market capitalization of $60.21 billion, a P/E ratio of 27.6630 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. Danaher Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. Equities research analysts anticipate that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
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In related news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.78, for a total value of $799,154.16. Following the completion of the transaction, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the completion of the transaction, the director now directly owns 42,151 shares of the company’s stock, valued at $3,499,797.53. The disclosure for this sale can be found here. Insiders sold a total of 71,496 shares of company stock valued at $5,916,223 in the last three months. 12.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DHR. BlackRock Inc. lifted its position in Danaher Corporation by 2,530.9% during the 1st quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock worth $3,247,398,000 after buying an additional 36,524,795 shares in the last quarter. Flossbach Von Storch AG raised its holdings in shares of Danaher Corporation by 44.7% in the 2nd quarter. Flossbach Von Storch AG now owns 5,782,019 shares of the conglomerate’s stock valued at $487,945,000 after purchasing an additional 1,785,810 shares during the period. Vanguard Group Inc. raised its holdings in shares of Danaher Corporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after purchasing an additional 1,530,015 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Danaher Corporation by 16,410.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,485,901 shares of the conglomerate’s stock valued at $125,395,000 after purchasing an additional 1,476,901 shares during the period. Finally, Koch Industries Inc. raised its holdings in shares of Danaher Corporation by 29,127.3% in the 2nd quarter. Koch Industries Inc. now owns 1,404,665 shares of the conglomerate’s stock valued at $1,388,000 after purchasing an additional 1,399,859 shares during the period. 75.68% of the stock is owned by hedge funds and other institutional investors.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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