Danaher Co. (DHR) Releases Quarterly Earnings Results
Danaher Co. (NYSE:DHR) issued its quarterly earnings data on Thursday. The conglomerate reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. Danaher had a return on equity of 12.38% and a net margin of 12.84%. The firm earned $4.21 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Danaher updated its Q2 guidance to $0.95-0.98 EPS and its FY17 guidance to $3.85-3.95 EPS.
Shares of Danaher (NYSE:DHR) opened at 86.44 on Thursday. The firm has a market capitalization of $59.93 billion, a P/E ratio of 23.67 and a beta of 1.00. The firm’s 50-day moving average price is $86.34 and its 200 day moving average price is $81.55. Danaher has a 12 month low of $71.99 and a 12 month high of $102.79.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be given a dividend of $0.14 per share. This is an increase from Danaher’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, March 29th. Danaher’s dividend payout ratio (DPR) is currently 13.66%.
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In other Danaher news, insider Brian W. Ellis sold 983 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $86.00, for a total transaction of $84,538.00. Following the transaction, the insider now directly owns 6,174 shares in the company, valued at $530,964. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the company’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $83.98, for a total transaction of $888,340.44. Following the transaction, the director now owns 95,378 shares in the company, valued at $8,009,844.44. The disclosure for this sale can be found here. Insiders have sold 60,009 shares of company stock worth $5,106,487 over the last 90 days. 12.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Danaher by 115.7% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,309 shares of the conglomerate’s stock valued at $103,000 after buying an additional 702 shares during the last quarter. SRB Corp bought a new position in shares of Danaher during the third quarter valued at $159,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Danaher during the fourth quarter valued at $161,000. Integrated Investment Consultants LLC raised its position in shares of Danaher by 22.1% in the first quarter. Integrated Investment Consultants LLC now owns 2,168 shares of the conglomerate’s stock valued at $185,000 after buying an additional 393 shares during the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of Danaher by 4.4% in the third quarter. Cedar Wealth Management LLC now owns 2,171 shares of the conglomerate’s stock valued at $170,000 after buying an additional 92 shares during the last quarter. Institutional investors own 76.14% of the company’s stock.
Several brokerages have recently commented on DHR. Vetr upgraded Danaher from a “hold” rating to a “buy” rating and set a $95.50 price objective for the company in a report on Monday, February 27th. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, April 4th. Citigroup Inc upgraded Danaher from a “neutral” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Friday, February 24th. Credit Suisse Group AG upgraded Danaher from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $93.00 in a report on Wednesday, February 1st. Finally, Jefferies Group LLC increased their price objective on Danaher from $93.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $93.76.
Danaher Company Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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