Danaher Corp. (DHR) Downgraded by Zacks Investment Research
According to Zacks, “Danaher has a decent earnings surprise history, beating estimates thrice, over the trailing four quarters. Of late, the company has been witnessing core revenue growth, margin expansion and earnings improvement, backed by its operating culture – Danaher Business System. Going forward, its diligent acquisition strategies look promising. After the Fortive spin-off on Jul 2, Danaher recently declared the buyout of California-based Cepheid to fortify its presence in the molecular diagnostics market. However, Danaher has been witnessing persistent weakness in key industrial markets, including Latin America and a few European regions, which has put sales under pressure. Also, currency headwinds continue to dent sales and are most likely to mar Danaher’s financials in the near term. Going forward, continual weakness in industrial markets, stiff competition and a stringent regulatory environment may hurt the company's financials.”
Several other brokerages have also recently weighed in on DHR. Goldman Sachs Group Inc. began coverage on Danaher Corp. in a report on Tuesday, July 5th. They set a neutral rating and a $74.00 target price on the stock. Sanford C. Bernstein raised shares of Danaher Corp. from a market perform rating to an outperform rating and set a $120.00 price target on the stock in a research report on Thursday, June 23rd. JPMorgan Chase & Co. reaffirmed a buy rating and set a $105.00 price target on shares of Danaher Corp. in a research report on Thursday, June 30th. Citigroup Inc. lifted their price target on shares of Danaher Corp. from $102.00 to $104.00 and gave the company a neutral rating in a research report on Monday, June 13th. Finally, Barclays PLC reaffirmed an overweight rating and set a $105.00 price target on shares of Danaher Corp. in a research report on Monday, June 27th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $93.98.
Shares of Danaher Corp. (NYSE:DHR) opened at 77.99 on Thursday. The company has a market cap of $53.86 billion, a PE ratio of 15.51 and a beta of 1.13. The firm’s 50-day moving average price is $79.06 and its 200 day moving average price is $76.56. Danaher Corp. has a 12 month low of $61.60 and a 12 month high of $82.64.
Danaher Corp. (NYSE:DHR) last issued its earnings results on Monday, July 25th. The company reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Equities research analysts anticipate that Danaher Corp. will post $3.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, September 28th. Danaher Corp.’s dividend payout ratio is currently 9.94%.
In other news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the sale, the insider now owns 179,054 shares of the company’s stock, valued at $14,582,157.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel L. Comas sold 96,446 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $80.88, for a total value of $7,800,552.48. Following the sale, the chief financial officer now directly owns 215,716 shares in the company, valued at approximately $17,447,110.08. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of DHR. Lincoln Capital LLC raised its stake in Danaher Corp. by 0.3% in the second quarter. Lincoln Capital LLC now owns 2,508 shares of the company’s stock worth $253,000 after buying an additional 8 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Danaher Corp. by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 2,210 shares of the company’s stock worth $210,000 after buying an additional 14 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Danaher Corp. by 0.5% in the second quarter. Clear Harbor Asset Management LLC now owns 4,006 shares of the company’s stock worth $405,000 after buying an additional 20 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Danaher Corp. by 0.7% in the second quarter. Quadrant Capital Group LLC now owns 3,799 shares of the company’s stock worth $375,000 after buying an additional 28 shares in the last quarter. Finally, Cypress Wealth Advisors LLC raised its stake in Danaher Corp. by 0.8% in the second quarter. Cypress Wealth Advisors LLC now owns 4,617 shares of the company’s stock worth $466,000 after buying an additional 37 shares in the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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