Danaher Corp. (DHR) Rating Reiterated by JPMorgan Chase & Co.
Danaher Corp. (NYSE:DHR)‘s stock had its “buy” rating restated by JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday. They currently have a $90.00 price objective on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 15.02% from the stock’s current price.
Several other research firms also recently issued reports on DHR. Citigroup Inc. upped their target price on Danaher Corp. from $102.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, June 13th. Zacks Investment Research downgraded Danaher Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Morgan Stanley reissued a “buy” rating and issued a $86.00 target price on shares of Danaher Corp. in a research report on Wednesday, August 31st. Barclays PLC reissued an “overweight” rating and issued a $90.00 target price on shares of Danaher Corp. in a research report on Wednesday, July 27th. Finally, Jefferies Group upped their price target on shares of Danaher Corp. from $92.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.10.
Shares of Danaher Corp. (NYSE:DHR) opened at 78.25 on Thursday. The company has a market capitalization of $54.03 billion, a PE ratio of 15.56 and a beta of 1.13. Danaher Corp. has a 12-month low of $61.60 and a 12-month high of $82.64. The firm’s 50-day moving average price is $78.73 and its 200-day moving average price is $76.66.
Danaher Corp. (NYSE:DHR) last released its earnings results on Monday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.03. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $1.08 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. On average, analysts expect that Danaher Corp. will post $3.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 0.64%. Danaher Corp.’s payout ratio is 9.94%.
In other news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the completion of the sale, the insider now owns 179,054 shares in the company, valued at approximately $14,582,157.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel L. Comas sold 96,446 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the sale, the chief financial officer now owns 215,716 shares of the company’s stock, valued at approximately $17,447,110.08. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Danaher Corp. by 6.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 41,869 shares of the company’s stock worth $3,972,000 after buying an additional 2,366 shares in the last quarter. Sentry Investment Management LLC increased its stake in shares of Danaher Corp. by 1.9% in the first quarter. Sentry Investment Management LLC now owns 46,181 shares of the company’s stock worth $4,381,000 after buying an additional 870 shares in the last quarter. Bristlecone Advisors LLC increased its stake in shares of Danaher Corp. by 10.1% in the first quarter. Bristlecone Advisors LLC now owns 4,376 shares of the company’s stock worth $415,000 after buying an additional 400 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Danaher Corp. by 3.3% in the first quarter. BlackRock Fund Advisors now owns 6,928,859 shares of the company’s stock worth $657,272,000 after buying an additional 218,791 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Danaher Corp. by 2.4% in the first quarter. Franklin Resources Inc. now owns 2,390,117 shares of the company’s stock worth $226,727,000 after buying an additional 55,475 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
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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