Danaher (NYSE:DHR) Upgraded by Piper Sandler to Hold Rating

Danaher (NYSE:DHR) was upgraded by analysts at Piper Sandler to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on DHR. JPMorgan Chase & Co. reduced their target price on Danaher from $275.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. HSBC reduced their target price on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Evercore increased their target price on Danaher from $225.00 to $232.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Wall Street Zen lowered Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Wells Fargo & Company cut their price target on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.61.

Danaher Stock Performance

DHR stock opened at $180.65 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $181.15 and its two-hundred day simple moving average is $204.96. Danaher has a twelve month low of $160.93 and a twelve month high of $242.80. The firm has a market cap of $127.86 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.45 and a beta of 0.81.

Danaher (NYSE:DHR) last released its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The business had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Analysts predict that Danaher will post 8.43 earnings per share for the current year.

Hedge Funds Weigh In On Danaher

Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Danaher by 1.7% during the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after buying an additional 472,608 shares during the period. Capital International Investors grew its stake in Danaher by 8.9% in the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after purchasing an additional 1,487,768 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Danaher by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock valued at $3,656,595,000 after purchasing an additional 1,334,221 shares during the last quarter. Wellington Management Group LLP grew its stake in Danaher by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after purchasing an additional 1,517,904 shares during the last quarter. Finally, Norges Bank purchased a new position in Danaher in the fourth quarter valued at about $2,177,106,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.