Leerink Partnrs Comments on Danaher Co.’s Q3 2024 Earnings (NYSE:DHR)

Danaher Co. (NYSE:DHR) – Investment analysts at Leerink Partnrs dropped their Q3 2024 earnings per share estimates for shares of Danaher in a research note issued to investors on Tuesday, April 23rd. Leerink Partnrs analyst P. Souda now forecasts that the conglomerate will post earnings of $1.70 per share for the quarter, down from their previous forecast of $1.87. The consensus estimate for Danaher’s current full-year earnings is $7.62 per share. Leerink Partnrs also issued estimates for Danaher’s Q4 2024 earnings at $2.42 EPS, FY2024 earnings at $7.60 EPS, Q1 2025 earnings at $2.25 EPS, FY2025 earnings at $8.70 EPS and FY2026 earnings at $9.63 EPS.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a return on equity of 11.48% and a net margin of 16.78%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.36 EPS.

A number of other research firms have also recently commented on DHR. Barclays lifted their price objective on Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on Danaher from $254.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. TD Cowen lifted their price objective on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HSBC upgraded Danaher from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $280.00 in a research report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.00.

Danaher Trading Down 1.8 %

NYSE:DHR opened at $245.82 on Thursday. The company has a market capitalization of $182.04 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 4.24 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.68 and a debt-to-equity ratio of 0.31. Danaher has a 52-week low of $182.09 and a 52-week high of $259.00. The stock has a fifty day simple moving average of $248.94 and a 200-day simple moving average of $230.88.

Hedge Funds Weigh In On Danaher

Several hedge funds and other institutional investors have recently bought and sold shares of DHR. Norges Bank acquired a new position in Danaher during the 4th quarter worth approximately $1,752,382,000. Wellington Management Group LLP raised its position in shares of Danaher by 18.6% in the 3rd quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock valued at $6,185,203,000 after purchasing an additional 3,905,449 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Danaher by 214.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,073,661 shares of the conglomerate’s stock valued at $711,051,000 after purchasing an additional 2,096,038 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Danaher by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock valued at $3,876,694,000 after purchasing an additional 1,619,586 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Danaher by 9.1% in the 4th quarter. Capital International Investors now owns 15,956,519 shares of the conglomerate’s stock valued at $3,691,735,000 after purchasing an additional 1,334,781 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other news, Director Teri List sold 3,289 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.32, for a total transaction of $816,724.48. Following the completion of the sale, the director now owns 19,726 shares in the company, valued at approximately $4,898,360.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teri List sold 3,289 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.32, for a total transaction of $816,724.48. Following the transaction, the director now directly owns 19,726 shares of the company’s stock, valued at approximately $4,898,360.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rainer Blair sold 47,175 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $249.22, for a total value of $11,756,953.50. Following the transaction, the chief executive officer now directly owns 115,995 shares in the company, valued at $28,908,273.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,132 shares of company stock worth $21,022,795. 11.10% of the stock is currently owned by company insiders.

Danaher Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.44%. This is a boost from Danaher’s previous quarterly dividend of $0.24. Danaher’s payout ratio is presently 18.31%.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.