Danaher Corporation (DHR) Rating Increased to Buy at Zacks Investment Research
Danaher Corporation (NYSE:DHR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $97.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.65% from the company’s current price.
According to Zacks, “Year-to-date, Danaher’s shares have outperformed the industry’s average return. The company has an excellent earnings history over the trailing four quarters, beating estimates all through. We are optimistic about the company’s core revenue and earnings growth, on the back of improving order trends and its operating culture, DBS. Going forward, the company expects the biopharma business to be a major growth driver. Its recent acquisitions – Pall and Cepheid – are proving to be strong profit churners, and will boost top-line growth as they become a part of the company’s core revenues. However, on the flip side, slowdown in the company’s academic business in Europe and prolonged sluggishness in the Dental business has restricted growth. Weakness in industrial markets and stiff competition may also hurt the company's financials.”
A number of other research firms have also issued reports on DHR. J P Morgan Chase & Co reissued an “overweight” rating and set a $95.00 price target on shares of Danaher Corporation in a research report on Friday, September 8th. Cowen and Company reissued a “buy” rating and set a $90.00 price target on shares of Danaher Corporation in a research report on Wednesday. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $83.00 price target on shares of Danaher Corporation in a research report on Tuesday, September 26th. Janney Montgomery Scott lowered shares of Danaher Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 7th. Finally, BidaskClub raised shares of Danaher Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Danaher Corporation presently has an average rating of “Buy” and an average target price of $92.44.
Shares of Danaher Corporation (NYSE:DHR) traded down 0.1840% during mid-day trading on Thursday, reaching $86.7201. 631,909 shares of the company’s stock were exchanged. Danaher Corporation has a one year low of $75.71 and a one year high of $88.62. The company has a market capitalization of $60.24 billion, a PE ratio of 27.6796 and a beta of 1.03. The company’s 50-day moving average price is $84.72 and its 200-day moving average price is $84.16.
Danaher Corporation (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the firm posted $0.90 EPS. Danaher Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Danaher Corporation will post $3.95 earnings per share for the current year.
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In related news, Director Linda P. Hefner sold 10,578 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the sale, the director now owns 42,151 shares of the company’s stock, valued at approximately $3,499,797.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $81.78, for a total transaction of $799,154.16. Following the completion of the sale, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The disclosure for this sale can be found here. In the last three months, insiders sold 71,496 shares of company stock valued at $5,916,223. 12.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Honeywell International Inc. purchased a new stake in Danaher Corporation in the 2nd quarter worth $25,317,000. Israel Discount Bank of New York purchased a new stake in Danaher Corporation in the 1st quarter worth $209,000. Eastern Bank increased its holdings in Danaher Corporation by 4,291.1% in the 2nd quarter. Eastern Bank now owns 128,001 shares of the conglomerate’s stock worth $10,802,000 after acquiring an additional 125,086 shares in the last quarter. DE Burlo Group Inc. increased its holdings in Danaher Corporation by 17.8% in the 1st quarter. DE Burlo Group Inc. now owns 131,450 shares of the conglomerate’s stock worth $11,242,000 after acquiring an additional 19,900 shares in the last quarter. Finally, Perkins Coie Trust Co increased its holdings in Danaher Corporation by 2.0% in the 2nd quarter. Perkins Coie Trust Co now owns 29,431 shares of the conglomerate’s stock worth $2,484,000 after acquiring an additional 586 shares in the last quarter. 75.68% of the stock is owned by institutional investors.
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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