Zacks Investment Research Lowers Danaher Corporation (DHR) to Hold
Zacks Investment Research cut shares of Danaher Corporation (NYSE:DHR) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Danaher kept its impressive earnings beat streak alive as its second-quarter 2017 adjusted earnings beat the Zacks Consensus Estimate by 2.1%. 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. Year to date, the stock has outperformed the Zacks categorized Diversified Operations industry average. 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 has restricted growth. Weakness in industrial markets and stiff competition may also hurt the company's financials.”
A number of other research analysts have also recently issued reports on DHR. 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. Royal Bank Of Canada reaffirmed a sector perform rating and set a $88.00 price objective (down from $89.00) on shares of Danaher Corporation in a research note on Friday, April 21st. BTIG Research reaffirmed a buy rating and set a $92.00 price objective on shares of Danaher Corporation in a research note on Sunday, April 23rd. Cowen and Company reaffirmed an outperform rating and set a $90.00 price objective on shares of Danaher Corporation in a research note on Sunday, April 23rd. Finally, William Blair reaffirmed an outperform rating on shares of Danaher Corporation in a research note on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $91.76.
Danaher Corporation (DHR) opened at 81.44 on Thursday. The firm has a market capitalization of $56.58 billion, a P/E ratio of 25.99 and a beta of 1.05. The firm’s 50-day moving average price is $84.11 and its 200 day moving average price is $84.25. Danaher Corporation has a one year low of $75.71 and a one year high of $88.01.
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 the Zacks’ 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 firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Lowers Danaher Corporation (DHR) to Hold” was published by Watch List News and is owned by of Watch List News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.watchlistnews.com/zacks-investment-research-lowers-danaher-corporation-dhr-to-hold/1463723.html.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were issued a dividend of $0.14 per share. 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 dividend payout ratio is currently 17.83%.
In other Danaher Corporation news, Director Linda P. Hefner sold 10,578 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the sale, the director now directly owns 42,151 shares in the company, valued at $3,499,797.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William King sold 7,458 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following the completion of the sale, the insider now owns 18,245 shares of the company’s stock, valued at $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 over the last 90 days. 12.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. First Manhattan Co. raised its stake in shares of Danaher Corporation by 0.6% in the second quarter. First Manhattan Co. now owns 2,751,439 shares of the conglomerate’s stock valued at $232,194,000 after buying an additional 17,373 shares during the period. Enterprise Financial Services Corp raised its stake in shares of Danaher Corporation by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 4,901 shares of the conglomerate’s stock valued at $414,000 after buying an additional 385 shares during the period. Hartford Financial Management Inc. raised its stake in shares of Danaher Corporation by 0.4% in the second quarter. Hartford Financial Management Inc. now owns 32,935 shares of the conglomerate’s stock valued at $2,779,000 after buying an additional 125 shares during the period. Whitnell & Co. raised its stake in shares of Danaher Corporation by 0.6% in the second quarter. Whitnell & Co. now owns 23,862 shares of the conglomerate’s stock valued at $2,014,000 after buying an additional 150 shares during the period. Finally, ST Germain D J Co. Inc. raised its stake in shares of Danaher Corporation by 12.4% in the second quarter. ST Germain D J Co. Inc. now owns 11,939 shares of the conglomerate’s stock valued at $1,008,000 after buying an additional 1,314 shares during the period. Institutional investors and hedge funds own 76.22% of the company’s stock.
Danaher Corporation 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Danaher Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.