Danaher (NYSE:DHR) Issues Earnings Results, Beats Expectations By $0.10 EPS

Danaher (NYSE:DHR) released its quarterly earnings data on Monday. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10, Briefing.com reports. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.11 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Danaher Trading Down 1.0%

NYSE DHR opened at $201.70 on Tuesday. 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 firm has a market cap of $142.76 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79. The company has a 50 day moving average price of $183.97 and a 200 day moving average price of $198.04. Danaher has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher’s payout ratio is presently 30.95%.

Analysts Set New Price Targets

Several research firms have recently commented on DHR. Barclays reduced their price target on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Morgan Stanley dropped their price objective on shares of Danaher from $270.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Piper Sandler began coverage on shares of Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Finally, Argus dropped their target price on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

Hedge Funds Weigh In On Danaher

Institutional investors and hedge funds have recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in shares of Danaher during the 3rd quarter valued at $25,000. WFA of San Diego LLC purchased a new position in Danaher during the 2nd quarter worth $26,000. Transamerica Financial Advisors LLC grew its stake in Danaher by 216.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 155 shares of the conglomerate’s stock worth $36,000 after buying an additional 106 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in Danaher during the 4th quarter valued at about $41,000. Finally, Quattro Advisors LLC purchased a new stake in Danaher in the fourth quarter valued at about $52,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher News Summary

Here are the key news stories impacting Danaher this week:

• Positive Sentiment: Danaher reported Q2 earnings of $1.94 per share, topping expectations, which shows the company continues to deliver solid profitability. Danaher (DHR) Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: The company also raised its annual profit forecast, which is supportive for full-year earnings but not enough to offset investor concerns about growth. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise
• Negative Sentiment: Danaher cut its core revenue growth outlook and posted weaker-than-expected biotechnology revenue, which is weighing on the stock and signaling softer demand in a key business line. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise

Danaher Company Profile

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.