BTIG Research Reiterates “Buy” Rating for Danaher Co. (DHR)
Danaher Co. (NYSE:DHR)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a report issued on Sunday, April 23rd. They presently have a $92.00 target price on the conglomerate’s stock. BTIG Research’s price objective would indicate a potential upside of 12.00% from the company’s previous close.
DHR has been the subject of several other research reports. Jefferies Group LLC raised their price target on Danaher from $93.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Vetr downgraded Danaher from a “strong-buy” rating to a “buy” rating and set a $89.84 price target for the company. in a report on Thursday, January 12th. Zacks Investment Research downgraded Danaher from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Evercore ISI raised their price target on Danaher from $88.50 to $91.50 and gave the company a “buy” rating in a report on Tuesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $88.00 price target (down previously from $89.00) on shares of Danaher in a report on Friday, April 21st. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $92.29.
Danaher (NYSE:DHR) traded up 0.82% during midday trading on Friday, reaching $82.81. 2,515,403 shares of the company were exchanged. The firm’s 50-day moving average is $84.05 and its 200-day moving average is $82.32. The firm has a market cap of $57.48 billion, a P/E ratio of 25.24 and a beta of 1.00. Danaher has a one year low of $75.71 and a one year high of $102.79.
Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, April 20th. The conglomerate reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.17 billion. Danaher had a return on equity of 12.38% and a net margin of 12.84%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. On average, equities analysts expect that Danaher will post $3.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.68%. Danaher’s dividend payout ratio (DPR) is presently 13.66%.
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In other Danaher news, Director Donald J. Ehrlich acquired 600 shares of Danaher stock in a transaction on Friday, April 21st. The stock was purchased at an average price of $82.76 per share, for a total transaction of $49,656.00. Following the purchase, the director now directly owns 84,800 shares of the company’s stock, valued at $7,018,048. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William K. Daniel sold 17,444 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $83.07, for a total value of $1,449,073.08. Following the completion of the transaction, the executive vice president now owns 132,995 shares of the company’s stock, valued at approximately $11,047,894.65. The disclosure for this sale can be found here. Insiders sold a total of 110,303 shares of company stock valued at $9,231,858 in the last 90 days. Corporate insiders own 12.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Danaher by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock worth $3,247,398,000 after buying an additional 36,524,795 shares in the last quarter. Norges Bank purchased a new position in shares of Danaher during the fourth quarter worth approximately $465,363,000. Dodge & Cox purchased a new position in shares of Danaher during the fourth quarter worth approximately $406,424,000. Vanguard Group Inc. boosted its position in shares of Danaher by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock worth $3,503,962,000 after buying an additional 1,530,015 shares in the last quarter. Finally, Fred Alger Management Inc. boosted its position in shares of Danaher by 676.9% in the fourth quarter. Fred Alger Management Inc. now owns 1,637,360 shares of the conglomerate’s stock worth $127,452,000 after buying an additional 1,426,599 shares in the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.
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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