Royal Bank of Canada Reaffirms “Sector Perform” Rating for Danaher Co. (DHR)
Danaher Co. (NYSE:DHR)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a report issued on Friday. They presently have a $88.00 target price on the conglomerate’s stock, down from their previous target price of $89.00. Royal Bank of Canada’s target price would suggest a potential upside of 7.71% from the stock’s previous close.
DHR has been the topic of a number of other research reports. Evercore ISI increased their price target on Danaher from $88.50 to $91.50 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Vetr upgraded Danaher from a “buy” rating to a “strong-buy” rating and set a $94.18 price target on the stock in a research note on Thursday. Credit Suisse Group AG upgraded Danaher from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $93.00 in a research report on Wednesday, February 1st. Citigroup Inc upgraded Danaher from a “neutral” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, February 24th. Finally, Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Wednesday, December 28th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Danaher presently has an average rating of “Buy” and a consensus target price of $92.57.
Danaher (NYSE:DHR) traded down 1.44% during mid-day trading on Friday, reaching $81.70. 7,637,358 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $86.07 and a 200 day moving average price of $81.58. The company has a market cap of $56.71 billion, a PE ratio of 24.90 and a beta of 1.00. Danaher has a 52-week low of $72.34 and a 52-week high of $88.01.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, April 20th. The conglomerate reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. Danaher had a return on equity of 12.38% and a net margin of 12.84%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Danaher will post $3.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Danaher’s previous quarterly dividend of $0.13. Danaher’s dividend payout ratio (DPR) is presently 13.66%.
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In related news, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $83.98, for a total value of $888,340.44. Following the transaction, the director now owns 95,378 shares in the company, valued at $8,009,844.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian W. Ellis sold 983 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $86.00, for a total value of $84,538.00. Following the completion of the transaction, the insider now owns 6,174 shares in the company, valued at approximately $530,964. The disclosure for this sale can be found here. Insiders sold 60,009 shares of company stock worth $5,106,487 in the last 90 days. 12.60% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Danaher during the fourth quarter valued at $465,363,000. Dodge & Cox acquired a new stake in Danaher during the fourth quarter valued at $406,424,000. Fred Alger Management Inc. raised its stake in Danaher by 676.9% in the fourth quarter. Fred Alger Management Inc. now owns 1,637,360 shares of the conglomerate’s stock valued at $127,452,000 after buying an additional 1,426,599 shares during the period. State Street Corp raised its stake in Danaher by 5.2% in the fourth quarter. State Street Corp now owns 24,796,803 shares of the conglomerate’s stock valued at $1,930,189,000 after buying an additional 1,232,416 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Danaher during the fourth quarter valued at $90,178,000. 76.14% of the stock is currently owned by institutional investors and hedge funds.
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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