Zacks Investment Research Downgrades Danaher (DHR) to Hold
Danaher (NYSE:DHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Over the past six months, Danaher has outperformed the industry average. We are optimistic about the company’s core revenue and earnings growth, on the back of improving order trends and its operating culture, DBS. Going forward, the company expects the biopharma business to be a major growth driver. Its recent acquisitions – Pall and Cepheid – are proving to be strong profit churners, and will boost top-line growth as they become a part of the company’s core revenues. However, on the flip side, sluggish economic conditions across key operating regions and unfavorable currency translations pose as threats. Especially, slowdown in the company’s academic business in Europe and prolonged sluggishness in the Dental business might restrict growth, going forward. Moreover, weakness in industrial markets and stiff competition may also hurt the company's financials.”
Several other brokerages have also commented on DHR. Citigroup boosted their price target on shares of Danaher to $107.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price target on shares of Danaher in a report on Tuesday, September 26th. Credit Suisse Group boosted their price target on shares of Danaher from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Robert W. Baird reissued a “buy” rating and issued a $99.00 price target on shares of Danaher in a report on Friday, December 15th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $95.00 target price on shares of Danaher in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $94.38.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.47 billion. Danaher had a net margin of 13.36% and a return on equity of 11.29%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. analysts expect that Danaher will post 3.99 earnings per share for the current year.
In other news, CFO Daniel L. Comas sold 88,184 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $91.02, for a total transaction of $8,026,507.68. Following the transaction, the chief financial officer now owns 227,816 shares of the company’s stock, valued at approximately $20,735,812.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donald J. Ehrlich sold 10,578 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $90.82, for a total transaction of $960,693.96. Following the transaction, the director now directly owns 104,621 shares in the company, valued at approximately $9,501,679.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,810 shares of company stock worth $25,218,813. 12.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. GQG Partners LLC acquired a new position in shares of Danaher during the 2nd quarter valued at about $101,000. Zions Bancorporation lifted its position in Danaher by 118.3% in the third quarter. Zions Bancorporation now owns 1,231 shares of the conglomerate’s stock valued at $106,000 after buying an additional 667 shares during the last quarter. Patten Group Inc. lifted its position in Danaher by 262.3% in the third quarter. Patten Group Inc. now owns 4,830 shares of the conglomerate’s stock valued at $114,000 after buying an additional 3,497 shares during the last quarter. Monetary Management Group Inc. lifted its position in Danaher by 10.7% in the second quarter. Monetary Management Group Inc. now owns 1,550 shares of the conglomerate’s stock valued at $131,000 after buying an additional 150 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its position in Danaher by 185.5% in the second quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock valued at $143,000 after buying an additional 1,100 shares during the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.
Danaher Company Profile
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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