Danaher Corporation (DHR) Given Buy Rating at Cowen and Company
Cowen and Company reissued their buy rating on shares of Danaher Corporation (NYSE:DHR) in a report issued on Wednesday morning. Cowen and Company currently has a $90.00 price objective on the conglomerate’s stock.
DHR has been the subject of a number of other reports. Deutsche Bank AG reissued a buy rating and set a $97.00 price objective on shares of Danaher Corporation in a research report on Wednesday, June 21st. Wells Fargo & Company initiated coverage on Danaher Corporation in a research report on Thursday, July 13th. They set a market perform rating and a $90.00 price objective for the company. BidaskClub downgraded Danaher Corporation from a hold rating to a sell rating in a research report on Saturday, July 8th. Zacks Investment Research raised Danaher Corporation from a hold rating to a buy rating and set a $91.00 price objective for the company in a research report on Friday, July 28th. Finally, Jefferies Group LLC reissued a buy rating and set a $95.00 price objective on shares of Danaher Corporation in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Danaher Corporation has an average rating of Buy and a consensus target price of $92.44.
Danaher Corporation (NYSE:DHR) traded up 0.10% during mid-day trading on Wednesday, hitting $86.97. 1,554,990 shares of the stock were exchanged. Danaher Corporation has a 12-month low of $75.71 and a 12-month high of $88.62. The company has a 50 day moving average of $84.72 and a 200 day moving average of $84.16. The firm has a market cap of $60.42 billion, a P/E ratio of 27.76 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the company posted $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 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, September 28th. Danaher Corporation’s dividend payout ratio (DPR) is 17.83%.
In other news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.78, for a total value 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 $12,718,425.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William King sold 43,688 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now directly owns 45,748 shares of the company’s stock, valued at $3,790,679.28. The disclosure for this sale can be found here. Insiders sold 71,496 shares of company stock valued at $5,916,223 over the last three months. Corporate insiders own 12.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Lee Danner & Bass Inc. boosted its holdings in shares of Danaher Corporation by 0.4% in the first quarter. Lee Danner & Bass Inc. now owns 2,635 shares of the conglomerate’s stock valued at $225,000 after acquiring an additional 10 shares during the period. Norway Savings Bank boosted its holdings in shares of Danaher Corporation by 0.4% in the second quarter. Norway Savings Bank now owns 2,238 shares of the conglomerate’s stock valued at $189,000 after acquiring an additional 10 shares during the period. National Asset Management Inc. boosted its holdings in shares of Danaher Corporation by 0.4% in the second quarter. National Asset Management Inc. now owns 3,767 shares of the conglomerate’s stock valued at $318,000 after acquiring an additional 14 shares during the period. First Financial Corp IN boosted its holdings in shares of Danaher Corporation by 0.8% in the second quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock valued at $230,000 after acquiring an additional 21 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Danaher Corporation by 0.4% in the second quarter. Brighton Jones LLC now owns 5,159 shares of the conglomerate’s stock valued at $435,000 after acquiring an additional 21 shares during the period. 75.68% of the stock is owned by institutional investors and hedge funds.
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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