Zacks Investment Research Upgrades Danaher Corporation (DHR) to “Buy”
Zacks Investment Research upgraded shares of Danaher Corporation (NYSE:DHR) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $91.00 price objective on the conglomerate’s stock.
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%. The company has an excellent earnings history over the trailing four quarters, beating estimates all through. 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. Year to date, the stock has yielded a positive retur compared to the the industry's average decline. However, on the flip side, slowdown in the company’s academic business in Europe and prolonged sluggishness in the Dental business might restrict growth, going forward.”
Other equities analysts also recently issued research reports about the stock. BTIG Research reissued a buy rating and issued a $92.00 price objective on shares of Danaher Corporation in a research note on Sunday, April 23rd. Credit Suisse Group restated a buy rating and issued a $93.00 price target on shares of Danaher Corporation in a research report on Wednesday, May 24th. Deutsche Bank AG restated a buy rating and issued a $97.00 price target on shares of Danaher Corporation in a research report on Wednesday, June 21st. Citigroup Inc. set a $96.00 price target on shares of Danaher Corporation and gave the company a buy rating in a research report on Friday, July 21st. Finally, BidaskClub upgraded shares of Danaher Corporation from a sell rating to a hold rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Danaher Corporation has a consensus rating of Buy and a consensus target price of $91.76.
Shares of Danaher Corporation (DHR) opened at 81.49 on Friday. Danaher Corporation has a one year low of $75.71 and a one year high of $88.01. The company has a 50 day moving average of $84.02 and a 200-day moving average of $84.30. The firm has a market cap of $56.61 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, analysts expect that Danaher Corporation will post $3.95 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, June 28th. Danaher Corporation’s dividend payout ratio (DPR) is presently 17.83%.
In other news, SVP Angela S. Lalor sold 10,815 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $84.16, for a total transaction of $910,190.40. Following the completion of the sale, the senior vice president now directly owns 39,020 shares in the company, valued at $3,283,923.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William King sold 7,458 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following 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. Over the last quarter, insiders have sold 28,851 shares of company stock valued at $2,407,272. 12.20% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of DHR. Vanguard Group Inc. boosted its position in shares of Danaher Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after buying an additional 1,530,015 shares in the last quarter. BlackRock Inc. boosted its position in shares of Danaher Corporation by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock valued at $3,247,398,000 after buying an additional 36,524,795 shares in the last quarter. FMR LLC boosted its position in shares of Danaher Corporation by 0.3% in the first quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock valued at $1,662,803,000 after buying an additional 53,429 shares in the last quarter. Parnassus Investments CA boosted its position in shares of Danaher Corporation by 15.3% in the first quarter. Parnassus Investments CA now owns 8,622,528 shares of the conglomerate’s stock valued at $712,738,000 after buying an additional 1,143,284 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Danaher Corporation by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 7,645,818 shares of the conglomerate’s stock valued at $653,946,000 after buying an additional 50,673 shares in the last quarter. Institutional investors own 76.22% of the company’s stock.
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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