Danaher Corp. (DHR) Given Buy Rating at Evercore ISI
Danaher Corp. (NYSE:DHR)‘s stock had its “buy” rating reiterated by analysts at Evercore ISI in a research report issued to clients and investors on Wednesday. They presently have a $89.00 price target on the stock. Evercore ISI’s price objective would indicate a potential upside of 15.92% from the company’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Danaher Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. Goldman Sachs Group Inc. started coverage on Danaher Corp. in a research note on Tuesday, July 5th. They issued a “neutral” rating and a $74.00 price objective on the stock. Morgan Stanley reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Danaher Corp. in a research note on Wednesday, August 31st. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Danaher Corp. in a research note on Thursday, October 6th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $86.00 price objective (down previously from $105.00) on shares of Danaher Corp. in a research note on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $92.87.
Shares of Danaher Corp. (NYSE:DHR) traded up 0.58% during mid-day trading on Wednesday, reaching $76.78. The company’s stock had a trading volume of 3,146,169 shares. The stock has a market capitalization of $53.02 billion, a P/E ratio of 15.27 and a beta of 1.13. Danaher Corp. has a 12-month low of $61.60 and a 12-month high of $82.64. The company’s 50-day moving average price is $78.45 and its 200-day moving average price is $76.77.
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Danaher Corp. (NYSE:DHR) last posted its quarterly earnings data on Monday, July 25th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.22 by $0.03. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Danaher Corp. will post $3.56 earnings per share for the current fiscal year.
The firm also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, September 28th. Danaher Corp.’s payout ratio is currently 9.94%.
In other Danaher Corp. news, CFO Daniel L. Comas sold 96,446 shares of Danaher Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the completion of the sale, the chief financial officer now directly owns 215,716 shares of the company’s stock, valued at approximately $17,447,110.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of Danaher Corp. 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 sale, the insider now directly owns 179,054 shares of the company’s stock, valued at $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 modified their holdings of the stock. Investec Asset Management North America Inc. raised its stake in shares of Danaher Corp. by 76.7% in the first quarter. Investec Asset Management North America Inc. now owns 15,352 shares of the company’s stock worth $1,456,000 after buying an additional 6,663 shares during the period. Investec Asset Management LTD raised its position in Danaher Corp. by 35.0% in the first quarter. Investec Asset Management LTD now owns 1,321,145 shares of the company’s stock valued at $125,324,000 after buying an additional 342,676 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in Danaher Corp. by 19.8% in the first quarter. Ropes Wealth Advisors LLC now owns 2,205 shares of the company’s stock valued at $209,000 after buying an additional 365 shares during the last quarter. Cannell Peter B & Co Inc raised its position in Danaher Corp. by 4.3% in the first quarter. Cannell Peter B & Co Inc now owns 46,180 shares of the company’s stock valued at $4,381,000 after buying an additional 1,910 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Danaher Corp. during the first quarter valued at approximately $8,543,000. 75.74% of the stock is owned by institutional investors and hedge funds.
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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