Danaher Co. (NYSE:DHR – Get Free Report) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 7,010,000 shares, a growth of 6.2% from the August 31st total of 6,600,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 2.5 days.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on DHR. TD Cowen lifted their target price on shares of Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Danaher from $271.00 to $278.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays increased their target price on Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price target on Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Bank of America increased their price objective on Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Danaher has an average rating of “Moderate Buy” and a consensus target price of $282.12.
View Our Latest Research Report on Danaher
Insider Activity at Danaher
Hedge Funds Weigh In On Danaher
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Danaher by 7.4% in the first quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock worth $15,009,928,000 after buying an additional 4,163,657 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Danaher by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock valued at $6,460,966,000 after purchasing an additional 2,998,161 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Danaher by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock worth $3,876,694,000 after purchasing an additional 1,619,586 shares during the period. Capital International Investors raised its holdings in Danaher by 9.1% in the fourth quarter. Capital International Investors now owns 15,956,519 shares of the conglomerate’s stock worth $3,691,735,000 after purchasing an additional 1,334,781 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Danaher by 2.4% during the second quarter. Legal & General Group Plc now owns 5,964,031 shares of the conglomerate’s stock valued at $1,490,112,000 after buying an additional 139,989 shares during the period. Institutional investors own 79.05% of the company’s stock.
Danaher Trading Down 1.3 %
NYSE:DHR opened at $274.54 on Wednesday. The firm has a market capitalization of $203.35 billion, a P/E ratio of 46.53, a P/E/G ratio of 4.55 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $270.98 and a 200 day moving average of $258.24. Danaher has a 52 week low of $182.09 and a 52 week high of $281.70.
Danaher (NYSE:DHR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, beating the consensus estimate of $1.57 by $0.15. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. On average, research analysts predict that Danaher will post 7.59 earnings per share for the current year.
Danaher Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.27 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.39%. Danaher’s dividend payout ratio is currently 18.31%.
About Danaher
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.
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