Danaher (NYSE:DHR) Receives Buy Rating from Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Danaher (NYSE:DHR) in a research report sent to investors on Friday, Briefing.com Automated Import reports. Needham & Company LLC currently has a $155.00 price target on the conglomerate’s stock, up from their previous price target of $142.00.
DHR has been the topic of several other research reports. Janney Montgomery Scott raised their target price on shares of Danaher from $136.00 to $174.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Wolfe Research initiated coverage on shares of Waters in a research note on Thursday, May 30th. They set an underperform rating on the stock. Piper Jaffray Companies upgraded shares of Post from a neutral rating to an overweight rating and lifted their price target for the stock from $106.00 to $130.00 in a research note on Thursday, July 18th. Finally, Zacks Investment Research cut shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $139.08.
Shares of DHR stock opened at $141.62 on Friday. Danaher has a 12-month low of $94.59 and a 12-month high of $145.50. The company has a quick ratio of 1.91, a current ratio of 2.32 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $140.84. The stock has a market capitalization of $101.59 billion, a PE ratio of 31.33, a P/E/G ratio of 2.56 and a beta of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, June 27th. Danaher’s dividend payout ratio (DPR) is 15.04%.
In related news, CEO Thomas Patrick Joyce, Jr. sold 183,878 shares of Danaher stock in a transaction on Monday, April 29th. The shares were sold at an average price of $131.30, for a total transaction of $24,143,181.40. Following the transaction, the chief executive officer now owns 302,377 shares in the company, valued at approximately $39,702,100.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donald J. Ehrlich sold 5,000 shares of Danaher stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $132.95, for a total transaction of $664,750.00. Following the transaction, the director now owns 100,603 shares in the company, valued at approximately $13,375,168.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 453,448 shares of company stock worth $59,724,640. 11.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CX Institutional increased its holdings in Danaher by 188.7% in the 1st quarter. CX Institutional now owns 205 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 134 shares during the last quarter. Executive Wealth Management LLC bought a new stake in Danaher in the 4th quarter valued at $39,000. Lenox Wealth Management Inc. bought a new stake in Danaher in the 1st quarter valued at $40,000. Sontag Advisory LLC bought a new stake in Danaher in the 4th quarter valued at $47,000. Finally, Clarfeld Financial Advisors LLC bought a new stake in Danaher in the 4th quarter valued at $50,000. Institutional investors own 78.86% of the company’s stock.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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