Danaher Corporation (DHR) Shares Gap Up After Better-Than-Expected Earnings
Danaher Corporation (NYSE:DHR) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $90.37, but opened at $90.10. Danaher Corporation shares last traded at $91.22, with a volume of 1,638,984 shares changing hands.
The conglomerate reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Danaher Corporation had a net margin of 13.36% and a return on equity of 11.48%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 28th. Danaher Corporation’s dividend payout ratio is currently 16.52%.
Several research firms have issued reports on DHR. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub lowered shares of Danaher Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. set a $96.00 price target on shares of Danaher Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $88.00 price target on shares of Danaher Corporation in a report on Wednesday, July 12th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $90.00 price target on shares of Danaher Corporation in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.31.
In related news, insider William King sold 43,688 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the completion of the transaction, the insider now directly owns 45,748 shares in the company, valued at $3,790,679.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the transaction, the insider now owns 155,520 shares of the company’s stock, valued at $12,718,425.60. The disclosure for this sale can be found here. Insiders own 12.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Danaher Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 41,488,407 shares of the conglomerate’s stock worth $3,501,206,000 after acquiring an additional 520,776 shares during the period. BlackRock Inc. raised its position in shares of Danaher Corporation by 3.2% in the second quarter. BlackRock Inc. now owns 39,201,798 shares of the conglomerate’s stock worth $3,308,239,000 after acquiring an additional 1,233,876 shares during the period. FMR LLC raised its position in shares of Danaher Corporation by 0.9% in the second quarter. FMR LLC now owns 19,624,350 shares of the conglomerate’s stock worth $1,656,100,000 after acquiring an additional 183,183 shares during the period. Geode Capital Management LLC raised its position in shares of Danaher Corporation by 6.0% in the first quarter. Geode Capital Management LLC now owns 5,815,659 shares of the conglomerate’s stock worth $496,687,000 after acquiring an additional 329,458 shares during the period. Finally, Flossbach Von Storch AG raised its position in shares of Danaher Corporation by 44.7% in the second quarter. Flossbach Von Storch AG now owns 5,782,019 shares of the conglomerate’s stock worth $487,945,000 after acquiring an additional 1,785,810 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.
The firm has a 50-day moving average price of $86.59 and a 200 day moving average price of $84.29. The stock has a market capitalization of $63.07 billion, a price-to-earnings ratio of 28.98 and a beta of 1.03.
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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