Danaher Corporation (DHR) Downgraded by BidaskClub to Sell
BidaskClub downgraded shares of Danaher Corporation (NYSE:DHR) from a hold rating to a sell rating in a research report released on Tuesday morning.
DHR has been the topic of several other reports. Wells Fargo & Company reissued a market perform rating on shares of Danaher Corporation in a research note on Saturday, July 22nd. Credit Suisse Group reissued a buy rating and set a $93.00 price objective on shares of Danaher Corporation in a research note on Wednesday, May 24th. Janney Montgomery Scott cut Danaher Corporation from a buy rating to a neutral rating in a research note on Wednesday, June 7th. Deutsche Bank AG reissued a buy rating and set a $97.00 price objective on shares of Danaher Corporation in a research note on Wednesday, June 21st. Finally, Vetr raised Danaher Corporation from a buy rating to a strong-buy rating and set a $94.18 price objective on the stock in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $91.76.
Shares of Danaher Corporation (NYSE:DHR) traded up 0.33% during trading on Tuesday, hitting $81.43. The stock had a trading volume of 3,018,302 shares. The company has a market cap of $56.57 billion, a PE ratio of 25.99 and a beta of 1.05. The stock has a 50 day moving average of $84.11 and a 200 day moving average of $84.25. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.01.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The company had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts forecast that Danaher Corporation will post $3.95 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were issued a $0.14 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. Danaher Corporation’s payout ratio is 17.83%.
In related news, SVP Angela S. Lalor sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $84.16, for a total value of $910,190.40. Following the completion of the sale, the senior vice president now owns 39,020 shares in the company, valued at $3,283,923.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William King sold 7,458 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $82.97, for a total value of $618,790.26. Following the completion of the sale, the insider now owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. Insiders sold 28,851 shares of company stock valued at $2,407,272 in the last quarter. 12.20% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in DHR. Vanguard Group Inc. raised its stake in shares of Danaher Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock worth $3,503,962,000 after buying an additional 1,530,015 shares during the last quarter. BlackRock Inc. raised its stake in shares of Danaher Corporation by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock worth $3,247,398,000 after buying an additional 36,524,795 shares during the last quarter. FMR LLC raised its stake in shares of Danaher Corporation by 0.3% in the first quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock worth $1,662,803,000 after buying an additional 53,429 shares during the last quarter. Parnassus Investments CA raised its stake in shares of Danaher Corporation by 15.3% in the first quarter. Parnassus Investments CA now owns 8,622,528 shares of the conglomerate’s stock worth $712,738,000 after buying an additional 1,143,284 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Danaher Corporation by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 7,645,818 shares of the conglomerate’s stock worth $653,946,000 after buying an additional 50,673 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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