Bank of America Corp. Upgrades Danaher Corp. to “Buy” (DHR)
Danaher Corp. (NYSE:DHR) was upgraded by research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a report released on Tuesday, AnalystRatings.NET reports. The firm currently has a $90.00 price target on the stock, up from their previous price target of $78.00. Bank of America Corp.’s price target indicates a potential upside of 15.00% from the stock’s previous close.
The analysts wrote, “We upgrade DHR from a Neutral to a Buy heading into ’14 reflective of: 1) A likely step-up in the company’s acquisition pace with the integration of Beckman Coulter largely complete; 2) Improving core growth which should provide EPS upside relative to DHR’s conservative outlook next year; 3) An attractive EV/EBITDA valuation relative to peers, considering premium returns and EPS upside from M&A,”
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of Danaher Corp. from $73.00 to $83.00 in a research note to investors on Tuesday, December 31st. They now have a “market perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Danaher Corp. in a research note to investors on Friday, December 13th. They now have a $78.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Danaher Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $75.33.
Danaher Corp. (NYSE:DHR) traded up 2.77% during mid-day trading on Tuesday, hitting $78.26. The stock had a trading volume of 4,642,101 shares. Danaher Corp. has a 52-week low of $57.61 and a 52-week high of $77.73. The stock’s 50-day moving average is $75.70 and its 200-day moving average is $70.63. The company has a market cap of $54.563 billion and a P/E ratio of 21.28.
Danaher Corp. (NYSE:DHR) last released its earnings data on Thursday, October 17th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter last year, the company posted $0.77 earnings per share. Danaher Corp.’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Danaher Corp. will post $3.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of 0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Thursday, December 26th.
Danaher Corporation (NYSE:DHR) designs, manufactures and markets professional, medical, industrial and commercial products and services.
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