Danaher Corp. (NYSE:DHR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $86.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.27% from the stock’s previous close.
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 – DBS. Going forward, its diligent acquisition strategies look promising. On Jul 2, the company completed the Fortive spin-off which is expected to help the company focus on channelizing 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 brokerages have also recently issued reports on DHR. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $105.00 target price on shares of Danaher Corp. in a report on Thursday, June 30th. Citigroup Inc. raised their price objective on shares of Danaher Corp. from $102.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, June 13th. Morgan Stanley reissued a “buy” rating and set a $86.00 price objective on shares of Danaher Corp. in a research note on Wednesday, August 31st. Barclays PLC reissued an “overweight” rating and set a $90.00 price objective on shares of Danaher Corp. in a research note on Wednesday, July 27th. Finally, Jefferies Group raised their price objective on shares of Danaher Corp. from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, July 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.98.
Shares of Danaher Corp. (NYSE:DHR) traded up 0.78% during mid-day trading on Tuesday, reaching $77.20. The company’s stock had a trading volume of 1,101,867 shares. The company has a market capitalization of $53.31 billion, a price-to-earnings ratio of 15.35 and a beta of 1.13. Danaher Corp. has a 1-year low of $61.60 and a 1-year high of $82.64. The firm’s 50 day moving average price is $79.57 and its 200-day moving average price is $76.26.
Danaher Corp. (NYSE:DHR) last issued its earnings results on Monday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $5.80 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Danaher Corp. will post $3.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued 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 payout ratio is 12.72%.
In related news, CFO Daniel L. Comas sold 96,446 shares of Danaher Corp. 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 sale, the chief financial officer now owns 215,716 shares of the company’s stock, valued at approximately $17,447,110.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of Danaher Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the sale, the insider now directly owns 179,054 shares in the company, valued at approximately $14,582,157.76. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Lincoln Capital LLC increased its stake in Danaher Corp. by 0.3% in the second quarter. Lincoln Capital LLC now owns 2,508 shares of the company’s stock valued at $253,000 after buying an additional 8 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Danaher Corp. by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 2,210 shares of the company’s stock valued at $210,000 after buying an additional 14 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Danaher Corp. by 0.5% in the second quarter. Clear Harbor Asset Management LLC now owns 4,006 shares of the company’s stock valued at $405,000 after buying an additional 20 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Danaher Corp. by 0.7% in the second quarter. Quadrant Capital Group LLC now owns 3,799 shares of the company’s stock valued at $375,000 after buying an additional 28 shares during the last quarter. Finally, Cypress Wealth Advisors LLC increased its stake in Danaher Corp. by 0.8% in the second quarter. Cypress Wealth Advisors LLC now owns 4,617 shares of the company’s stock valued at $466,000 after buying an additional 37 shares during the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
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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