Danaher (NYSE:DHR) Trading 6.1% Higher – Here’s What Happened

Shares of Danaher Corporation (NYSE:DHRGet Free Report) rose 6.1% on Thursday . The stock traded as high as $189.04 and last traded at $189.9960. 3,009,031 shares traded hands during trading, a decline of 34% from the average daily volume of 4,535,836 shares. The stock had previously closed at $179.14.

Danaher News Roundup

Here are the key news stories impacting Danaher this week:

Analyst Upgrades and Downgrades

DHR has been the topic of a number of research analyst reports. Robert W. Baird dropped their price target on shares of Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Citigroup started coverage on shares of Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Danaher from $270.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Argus cut their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Danaher from $275.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. One equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $228.91.

View Our Latest Analysis on DHR

Danaher Price Performance

The stock’s fifty day moving average price is $184.49 and its 200-day moving average price is $197.34. The firm has a market cap of $134.93 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher (NYSE:DHRGet Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.09. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.06%. Danaher’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, equities analysts expect that Danaher Corporation will post 8.49 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, June 26th. Danaher’s dividend payout ratio (DPR) is currently 30.95%.

Institutional Trading of Danaher

Several large investors have recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG increased its holdings in Danaher by 25.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock worth $83,895,000 after purchasing an additional 74,301 shares during the period. Defender Capital LLC. purchased a new position in shares of Danaher in the 4th quarter valued at about $35,715,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Danaher by 303.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after buying an additional 186,584 shares during the period. Peak Financial Advisors LLC grew its position in shares of Danaher by 215.4% during the fourth quarter. Peak Financial Advisors LLC now owns 10,638 shares of the conglomerate’s stock worth $2,435,000 after buying an additional 7,265 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Danaher during the fourth quarter worth approximately $4,477,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

About Danaher

(Get Free Report)

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.

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