Danaher (NYSE:DHR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $109.00 price target on the conglomerate’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.10% from the stock’s current price.
According to Zacks, “Danaher 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 rising healthcare spending. 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. This apart, the company’s continuous introduction of products enables it to penetrate new markets and gain competitive edge in existing ones. Over the past six months, the stock has outperformed the industry average. However, 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 equities research analysts have also commented on the stock. Credit Suisse Group restated a “hold” rating and issued a $99.00 price target on shares of Danaher in a report on Tuesday, December 19th. Robert W. Baird restated a “buy” rating on shares of Danaher in a report on Friday, January 12th. Barclays initiated coverage on shares of Danaher in a report on Thursday, February 15th. They issued an “overweight” rating and a $110.00 price target for the company. Royal Bank of Canada restated a “hold” rating and issued a $96.00 price target on shares of Danaher in a report on Thursday, January 4th. Finally, Evercore ISI initiated coverage on shares of Danaher in a report on Wednesday, January 3rd. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Danaher has an average rating of “Buy” and an average price target of $102.18.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, January 30th. The conglomerate reported $1.19 EPS for the quarter, beating the consensus estimate of $1.16 by $0.03. Danaher had a net margin of 13.60% and a return on equity of 11.36%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. research analysts forecast that Danaher will post 4.38 earnings per share for the current year.
In related news, EVP William K. Daniel sold 131,066 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $102.05, for a total transaction of $13,375,285.30. Following the completion of the transaction, the executive vice president now owns 270,523 shares in the company, valued at approximately $27,606,872.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Angela S. Lalor sold 42,988 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $102.29, for a total transaction of $4,397,242.52. Following the transaction, the senior vice president now owns 82,008 shares of the company’s stock, valued at approximately $8,388,598.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,260 shares of company stock valued at $31,657,786. 11.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Green Square Capital LLC grew its position in Danaher by 108.2% during the 4th quarter. Green Square Capital LLC now owns 10,557 shares of the conglomerate’s stock worth $981,000 after purchasing an additional 5,486 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Danaher by 7.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 110,377 shares of the conglomerate’s stock worth $10,245,000 after purchasing an additional 7,412 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Danaher during the 4th quarter worth approximately $278,000. Envestnet Asset Management Inc. grew its position in Danaher by 4.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 160,706 shares of the conglomerate’s stock worth $14,917,000 after purchasing an additional 6,547 shares during the last quarter. Finally, CNB Bank purchased a new stake in Danaher during the 4th quarter worth approximately $116,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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