Danaher Corporation (DHR) Receives Overweight Rating from Morgan Stanley
Morgan Stanley reaffirmed their overweight rating on shares of Danaher Corporation (NYSE:DHR) in a research report released on Friday morning. They currently have a $95.00 target price on the conglomerate’s stock, up from their prior target price of $86.00.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Danaher Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. BidaskClub downgraded Danaher Corporation from a hold rating to a sell rating in a research note on Tuesday, July 25th. Citigroup Inc. set a $96.00 price objective on Danaher Corporation and gave the company a buy rating in a research note on Friday, July 21st. Cowen and Company reiterated a buy rating and set a $90.00 price target on shares of Danaher Corporation in a research note on Wednesday. Finally, Royal Bank Of Canada reiterated a hold rating and set a $88.00 price target on shares of Danaher Corporation in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Danaher Corporation presently has an average rating of Buy and a consensus target price of $92.62.
Danaher Corporation (NYSE DHR) traded up 0.76% during trading on Friday, reaching $87.63. 2,074,587 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $85.07 and its 200-day moving average price is $84.19. The firm has a market cap of $60.88 billion, a price-to-earnings ratio of 27.97 and a beta of 1.03. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.62.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, equities research analysts anticipate that Danaher Corporation will post $3.95 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a $0.14 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.56 annualized dividend and a yield of 0.64%. Danaher Corporation’s dividend payout ratio is currently 17.83%.
In other Danaher Corporation news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.78, for a total value of $799,154.16. Following the sale, the insider now owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William King sold 43,688 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now directly owns 45,748 shares in the company, valued at approximately $3,790,679.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,496 shares of company stock valued at $5,916,223. 12.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in DHR. BlackRock Inc. raised its holdings in shares of Danaher Corporation by 2,530.9% in the 1st quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock valued at $3,247,398,000 after acquiring an additional 36,524,795 shares in the last quarter. Flossbach Von Storch AG raised its holdings in shares of Danaher Corporation by 44.7% in the 2nd quarter. Flossbach Von Storch AG now owns 5,782,019 shares of the conglomerate’s stock valued at $487,945,000 after acquiring an additional 1,785,810 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Danaher Corporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after acquiring an additional 1,530,015 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Danaher Corporation by 16,410.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,485,901 shares of the conglomerate’s stock valued at $125,395,000 after acquiring an additional 1,476,901 shares in the last quarter. Finally, Koch Industries Inc. raised its holdings in shares of Danaher Corporation by 29,127.3% in the 2nd quarter. Koch Industries Inc. now owns 1,404,665 shares of the conglomerate’s stock valued at $1,388,000 after acquiring an additional 1,399,859 shares in the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
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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