Evercore ISI reaffirmed their buy rating on shares of Danaher Corp. (NYSE:DHR) in a research note published on Wednesday. The brokerage currently has a $89.00 price target on the stock.
Several other research firms have also weighed in on DHR. Sanford C. Bernstein raised Danaher Corp. from a market perform rating to an outperform rating and set a $120.00 price objective for the company in a research report on Thursday, June 23rd. Barclays PLC reissued an overweight rating and issued a $105.00 price objective on shares of Danaher Corp. in a research report on Monday, June 27th. Zacks Investment Research lowered Danaher Corp. from a hold rating to a sell rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reissued a buy rating and issued a $105.00 price objective on shares of Danaher Corp. in a research report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. assumed coverage on Danaher Corp. in a research report on Tuesday, July 5th. They issued a neutral rating and a $74.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $92.87.
Danaher Corp. (NYSE:DHR) traded down 0.85% on Wednesday, hitting $76.13. The stock had a trading volume of 235,858 shares. The stock has a market capitalization of $52.57 billion, a price-to-earnings ratio of 15.14 and a beta of 1.13. Danaher Corp. has a 52 week low of $61.60 and a 52 week high of $82.64. The company has a 50-day moving average price of $78.40 and a 200-day moving average price of $76.77.
Danaher Corp. (NYSE:DHR) last announced its earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.76 billion. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS. Equities research analysts anticipate that Danaher Corp. will post $3.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 0.65%. Danaher Corp.’s payout ratio is currently 9.94%.
In related news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $81.44, for a total value of $3,737,851.68. Following the transaction, the insider now owns 179,054 shares of the company’s stock, valued at $14,582,157.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel L. Comas sold 96,446 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the completion of the transaction, the chief financial officer now directly owns 215,716 shares in the company, valued at approximately $17,447,110.08. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Green Valley Investors LLC purchased a new position in Danaher Corp. during the second quarter worth approximately $219,027,000. Vanguard Group Inc. boosted its position in Danaher Corp. by 4.5% in the second quarter. Vanguard Group Inc. now owns 36,674,510 shares of the company’s stock worth $3,704,126,000 after buying an additional 1,586,751 shares in the last quarter. FMR LLC boosted its position in Danaher Corp. by 3.3% in the second quarter. FMR LLC now owns 35,987,650 shares of the company’s stock worth $3,634,752,000 after buying an additional 1,165,271 shares in the last quarter. Aristotle Capital Management LLC boosted its position in Danaher Corp. by 219.9% in the second quarter. Aristotle Capital Management LLC now owns 1,598,913 shares of the company’s stock worth $161,490,000 after buying an additional 1,099,123 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in Danaher Corp. during the second quarter worth approximately $88,276,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.
About Danaher Corp.