Danaher Corp. (DHR) Earns Buy Rating from Evercore ISI
Danaher Corp. (NYSE:DHR)‘s stock had its “buy” rating reiterated by equities research analysts at Evercore ISI in a research note issued to investors on Wednesday. They currently have a $89.00 target price on the stock. Evercore ISI’s price target would indicate a potential upside of 15.92% from the stock’s previous close.
DHR has been the topic of several other research reports. JPMorgan Chase & Co. restated a “buy” rating and set a $105.00 price objective on shares of Danaher Corp. in a report on Thursday, June 30th. Zacks Investment Research downgraded shares of Danaher Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Morgan Stanley restated a “buy” rating and set a $86.00 price objective on shares of Danaher Corp. in a report on Wednesday, August 31st. Barclays PLC restated an “overweight” rating and set a $90.00 price objective on shares of Danaher Corp. in a report on Wednesday, July 27th. Finally, Citigroup Inc. restated a “market perform” rating and set a $85.00 price objective on shares of Danaher Corp. in a report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $92.87.
Shares of Danaher Corp. (NYSE:DHR) traded up 0.58% during trading on Wednesday, reaching $76.78. 3,146,169 shares of the company’s stock traded hands. Danaher Corp. has a one year low of $61.60 and a one year high of $82.64. The company has a 50 day moving average price of $78.40 and a 200-day moving average price of $76.77. The stock has a market cap of $53.02 billion, a P/E ratio of 15.27 and a beta of 1.13.
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Danaher Corp. (NYSE:DHR) last released its quarterly earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The business earned $5.80 billion during the quarter, compared to analyst estimates of $5.76 billion. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts expect that Danaher Corp. will post $3.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.65%. Danaher Corp.’s dividend payout ratio (DPR) is 9.94%.
In other Danaher Corp. news, CFO Daniel L. Comas sold 96,446 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $80.88, for a total value of $7,800,552.48. Following the transaction, the chief financial officer now owns 215,716 shares in the company, valued at approximately $17,447,110.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $81.44, for a total value of $3,737,851.68. Following the completion of the transaction, the insider now owns 179,054 shares in the company, valued at approximately $14,582,157.76. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its position in shares of Danaher Corp. by 6.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 41,869 shares of the company’s stock worth $3,972,000 after buying an additional 2,366 shares during the last quarter. Findlay Park Partners LLP raised its position in shares of Danaher Corp. by 1.0% in the first quarter. Findlay Park Partners LLP now owns 3,378,763 shares of the company’s stock worth $320,509,000 after buying an additional 34,303 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new position in shares of Danaher Corp. during the first quarter worth $304,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Danaher Corp. during the first quarter worth $12,183,000. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Danaher Corp. by 0.4% in the first quarter. Canandaigua National Bank & Trust Co. now owns 18,635 shares of the company’s stock worth $1,768,000 after buying an additional 75 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.
Danaher Corp. Company Profile
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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