Danaher (NYSE:DHR) Stock Bumped Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Danaher (NYSE:DHR) from a hold rating to a buy rating in a research note published on Monday,Wall Street Zen reports.

A number of other analysts also recently commented on DHR. Stifel Nicolaus increased their price objective on shares of Danaher from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Robert W. Baird boosted their target price on Danaher from $246.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Citigroup upped their price target on Danaher from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings raised Danaher from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Finally, TD Cowen lifted their price objective on Danaher from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Danaher presently has an average rating of “Moderate Buy” and a consensus target price of $242.91.

Danaher Trading Up 1.0%

Shares of DHR opened at $232.79 on Monday. Danaher has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $216.22 and its two-hundred day moving average is $201.86. The stock has a market cap of $163.78 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.19. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. Research analysts forecast that Danaher will post 8.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher’s payout ratio is 26.19%.

Hedge Funds Weigh In On Danaher

Several institutional investors and hedge funds have recently bought and sold shares of the company. Autumn Glory Partners LLC lifted its holdings in Danaher by 50.3% in the third quarter. Autumn Glory Partners LLC now owns 2,858 shares of the conglomerate’s stock valued at $633,000 after acquiring an additional 956 shares during the last quarter. Midland Wealth Advisors LLC increased its stake in Danaher by 10.5% during the third quarter. Midland Wealth Advisors LLC now owns 1,815 shares of the conglomerate’s stock worth $402,000 after acquiring an additional 173 shares during the last quarter. Angeles Wealth Management LLC increased its stake in Danaher by 4.4% during the third quarter. Angeles Wealth Management LLC now owns 7,557 shares of the conglomerate’s stock worth $1,677,000 after acquiring an additional 320 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Danaher in the third quarter valued at $285,000. Finally, Park Avenue Securities LLC lifted its stake in shares of Danaher by 3.1% in the 3rd quarter. Park Avenue Securities LLC now owns 15,849 shares of the conglomerate’s stock valued at $3,511,000 after purchasing an additional 482 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.