Danaher’s (DHR) Outperform Rating Reiterated at Cowen and Company
Cowen and Company restated their outperform rating on shares of Danaher Co. (NYSE:DHR) in a research note published on Sunday. 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 research reports. Evercore ISI increased their target price on shares of Danaher from $88.50 to $91.50 and gave the company a buy rating in a research report on Tuesday, January 31st. Vetr raised shares of Danaher from a buy rating to a strong-buy rating and set a $94.18 target price for the company in a research report on Thursday. Credit Suisse Group AG raised shares of Danaher from a neutral rating to an outperform rating and increased their target price for the company from $80.00 to $93.00 in a research report on Wednesday, February 1st. Citigroup Inc raised shares of Danaher from a neutral rating to a buy rating and set a $98.00 target price for the company in a research report on Friday, February 24th. Finally, Zacks Investment Research raised shares of Danaher from a hold rating to a buy rating and set a $88.00 target price for the company in a research report on Wednesday, December 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $92.57.
Shares of Danaher (NYSE:DHR) traded down 1.44% during mid-day trading on Friday, reaching $81.70. 7,637,358 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $86.07 and a 200 day moving average price of $81.58. The firm has a market capitalization of $56.71 billion, a price-to-earnings ratio of 24.90 and a beta of 1.00. Danaher has a 12-month low of $72.34 and a 12-month high of $88.01.
Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, April 20th. The conglomerate reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. Danaher had a net margin of 12.84% and a return on equity of 12.38%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Danaher will post $3.93 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 29th. This is a positive change from Danaher’s previous quarterly dividend of $0.13. Danaher’s dividend payout ratio (DPR) is currently 13.66%.
In related news, SVP Robert S. Lutz sold 37,870 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $85.60, for a total transaction of $3,241,672.00. Following the sale, the senior vice president now owns 27,475 shares in the company, valued at $2,351,860. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Walter G. Lohr sold 10,578 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $84.32, for a total transaction of $891,936.96. Following the sale, the director now owns 18,831 shares in the company, valued at approximately $1,587,829.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,009 shares of company stock worth $5,106,487. 12.60% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. RiverPoint Capital Management LLC raised its position in shares of Danaher by 19.1% in the third quarter. RiverPoint Capital Management LLC now owns 10,311 shares of the conglomerate’s stock worth $808,000 after buying an additional 1,655 shares during the period. Conning Inc. raised its position in shares of Danaher by 0.4% in the third quarter. Conning Inc. now owns 49,078 shares of the conglomerate’s stock worth $3,847,000 after buying an additional 210 shares during the period. Westpac Banking Corp raised its position in shares of Danaher by 85.3% in the third quarter. Westpac Banking Corp now owns 189,683 shares of the conglomerate’s stock worth $14,869,000 after buying an additional 87,328 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Danaher during the third quarter worth approximately $1,251,000. Finally, Ropes Wealth Advisors LLC raised its position in shares of Danaher by 51.4% in the third quarter. Ropes Wealth Advisors LLC now owns 4,064 shares of the conglomerate’s stock worth $319,000 after buying an additional 1,379 shares during the period. 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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