Danaher (NYSE:DHR) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday.
DHR has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on Danaher from $155.00 to $175.00 in a research note on Thursday, December 19th. Piper Sandler raised their price objective on Danaher from to in a report on Thursday, January 30th. Robert W. Baird restated a “buy” rating and set a $136.00 price objective on shares of Danaher in a report on Monday. Wells Fargo & Co initiated coverage on Danaher in a report on Tuesday, January 7th. They set an “overweight” rating and a $170.00 price objective on the stock. Finally, Needham & Company LLC raised their price objective on Danaher from $167.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. Danaher has a consensus rating of “Buy” and an average target price of $166.41.
Shares of DHR stock traded up $9.34 on Thursday, reaching $138.66. 5,268,591 shares of the company’s stock were exchanged, compared to its average volume of 3,348,842. Danaher has a 52 week low of $119.60 and a 52 week high of $169.19. The company has a current ratio of 5.19, a quick ratio of 4.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $89.92 billion, a PE ratio of 34.24, a P/E/G ratio of 2.14 and a beta of 0.96. The company’s fifty day simple moving average is $149.39 and its 200 day simple moving average is $147.49.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Thursday, January 30th. The conglomerate reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. Danaher had a return on equity of 11.50% and a net margin of 15.09%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company earned $1.28 EPS. Danaher’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Danaher will post 5.38 earnings per share for the current fiscal year.
In other news, SVP William King sold 26,370 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $160.23, for a total value of $4,225,265.10. Following the completion of the sale, the senior vice president now owns 22,427 shares of the company’s stock, valued at approximately $3,593,478.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Patrick Joyce, Jr. sold 132,474 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.51, for a total value of $21,528,349.74. Following the completion of the sale, the chief executive officer now directly owns 246,027 shares of the company’s stock, valued at approximately $39,981,847.77. The disclosure for this sale can be found here. Insiders sold a total of 297,385 shares of company stock worth $48,153,397 over the last quarter. Company insiders own 11.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Danaher by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 48,262,218 shares of the conglomerate’s stock valued at $6,897,635,000 after buying an additional 686,421 shares during the period. Vanguard Group Inc increased its stake in shares of Danaher by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 44,738,984 shares of the conglomerate’s stock valued at $4,861,338,000 after purchasing an additional 605,018 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Danaher by 0.5% in the 4th quarter. BlackRock Inc. now owns 43,634,997 shares of the conglomerate’s stock valued at $4,499,639,000 after purchasing an additional 207,468 shares in the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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