Danaher Corporation (DHR) Given Overweight Rating at J P Morgan Chase & Co
Danaher Corporation (NYSE:DHR)‘s stock had its “overweight” rating reaffirmed by research analysts at J P Morgan Chase & Co in a research report issued on Friday. They currently have a $95.00 price objective on the conglomerate’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 9.50% from the company’s previous close.
A number of other research analysts have also commented on DHR. Credit Suisse Group reiterated a “buy” rating and set a $93.00 price objective on shares of Danaher Corporation in a research note on Wednesday, May 24th. Janney Montgomery Scott lowered shares of Danaher Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 7th. BidaskClub lowered shares of Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 15th. Zacks Investment Research lowered shares of Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $97.00 price objective on shares of Danaher Corporation in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $92.72.
Danaher Corporation (DHR) traded up 1.95% during midday trading on Friday, hitting $86.76. The company had a trading volume of 5,474,756 shares. The company’s 50 day moving average is $81.87 and its 200 day moving average is $84.14. Danaher Corporation has a 12-month low of $75.71 and a 12-month high of $88.01. The stock has a market cap of $60.27 billion, a price-to-earnings ratio of 27.69 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last posted its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Danaher Corporation will post $3.95 EPS for the current fiscal year.
In other Danaher Corporation news, insider William King sold 7,458 shares of Danaher Corporation stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $82.97, for a total transaction of $618,790.26. Following the transaction, the insider now directly owns 18,245 shares in the company, valued at approximately $1,513,787.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of Danaher Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the transaction, the director now owns 42,151 shares in the company, valued at $3,499,797.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,496 shares of company stock worth $5,916,223. Corporate insiders own 12.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DHR. Jennison Associates purchased a new position in Danaher Corporation during the 3rd quarter worth approximately $2,880,000. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new position in Danaher Corporation during the 3rd quarter worth approximately $18,097,000. Gerstein Fisher grew its position in Danaher Corporation by 30.7% during the 3rd quarter. Gerstein Fisher now owns 4,700 shares of the conglomerate’s stock worth $401,000 after purchasing an additional 1,105 shares in the last quarter. TrimTabs Asset Management purchased a new position in Danaher Corporation during the 3rd quarter worth approximately $2,120,000. Finally, MUFG Americas grew its position in Danaher Corporation by 8.3% during the 3rd quarter. MUFG Americas now owns 152,060 shares of the conglomerate’s stock worth $12,958,000 after purchasing an additional 11,694 shares in the last quarter. Hedge funds and other institutional investors own 75.75% 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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