Danaher Corporation (DHR) Downgraded to Sell at Zacks Investment Research
Danaher Corporation (NYSE:DHR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Danaher has been struggling to maintain the growth momentum of its Diagnostic and Dental business. While its Diagnostic unit is grappling with adverse currency movements and softness in Beckman Coulter unit, the dental unit is suffering from sustained weakness in traditional consumables business. Slowdown in the company’s academic business in Europe is also restricting growth, and may continue to pose a threat to the company’s growth. Weakness in industrial markets and stiff competition may hurt the company's financials in the coming quarters. In light of these negative trends, Danaher’s shares have significantly underperformed the Zacks Categorized Diversified Operations industry’s average over the past year. However, the company believes that it is very well-positioned in the biopharma business and expects it to act as a major profit churner.”
A number of other research analysts have also weighed in on DHR. BidaskClub lowered Danaher Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Credit Suisse Group reaffirmed a “buy” rating and set a $93.00 price objective on shares of Danaher Corporation in a report on Wednesday, May 24th. Vetr raised Danaher Corporation from a “hold” rating to a “buy” rating and set a $95.50 price objective on the stock in a report on Monday, February 27th. BTIG Research reaffirmed a “buy” rating and set a $92.00 price objective on shares of Danaher Corporation in a report on Sunday, April 23rd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $88.00 price objective (down previously from $89.00) on shares of Danaher Corporation in a report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.29.
Shares of Danaher Corporation (DHR) traded up 0.72% on Monday, hitting $85.09. The stock had a trading volume of 464,886 shares. The stock has a market cap of $59.06 billion, a P/E ratio of 25.93 and a beta of 1.02. The firm has a 50 day moving average of $83.96 and a 200 day moving average of $83.13. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $102.79.
Danaher Corporation (NYSE:DHR) last released its earnings results on Thursday, April 20th. The conglomerate reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. Danaher Corporation had a return on equity of 11.82% and a net margin of 12.30%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Danaher Corporation will post $3.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be given a $0.14 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.66%. Danaher Corporation’s dividend payout ratio is currently 17.02%.
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In related news, Director Donald J. Ehrlich acquired 600 shares of Danaher Corporation stock in a transaction dated Friday, April 21st. The shares were acquired at an average cost of $82.76 per share, for a total transaction of $49,656.00. Following the completion of the transaction, the director now directly owns 84,800 shares of the company’s stock, valued at $7,018,048. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Angela S. Lalor sold 10,815 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $84.16, for a total value of $910,190.40. Following the completion of the sale, the senior vice president now owns 39,020 shares in the company, valued at $3,283,923.20. The disclosure for this sale can be found here. Insiders sold 82,265 shares of company stock worth $6,815,839 over the last 90 days. Company insiders own 12.20% of the company’s stock.
Several hedge funds have recently modified their holdings of DHR. Vanguard Group Inc. increased its position in Danaher Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after buying an additional 1,530,015 shares during the period. BlackRock Inc. increased its position in Danaher Corporation by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock valued at $3,247,398,000 after buying an additional 36,524,795 shares during the period. State Street Corp increased its position in Danaher Corporation by 5.2% in the fourth quarter. State Street Corp now owns 24,796,803 shares of the conglomerate’s stock valued at $1,930,189,000 after buying an additional 1,232,416 shares during the period. FMR LLC increased its position in Danaher Corporation by 0.3% in the first quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock valued at $1,662,803,000 after buying an additional 53,429 shares during the period. Finally, Parnassus Investments CA increased its position in Danaher Corporation by 15.3% in the first quarter. Parnassus Investments CA now owns 8,622,528 shares of the conglomerate’s stock valued at $712,738,000 after buying an additional 1,143,284 shares during the period. Institutional investors and hedge funds own 77.45% of the company’s stock.
About Danaher Corporation
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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