Danaher (NYSE:DHR) Price Target Cut to $275.00

Danaher (NYSE:DHR) had its price target reduced by research analysts at Barclays from $285.00 to $275.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the conglomerate’s stock. Barclays‘s price target indicates a potential upside of 5.25% from the stock’s previous close.

A number of other equities research analysts have also commented on DHR. Bank of America upped their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Robert W. Baird cut their price target on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stephens initiated coverage on Danaher in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $315.00 price objective for the company. Leerink Partners boosted their price objective on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen raised their target price on Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and an average target price of $281.47.

Danaher Stock Performance

Shares of Danaher stock opened at $261.28 on Wednesday. The stock has a market cap of $193.53 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 4.49 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.33. Danaher has a twelve month low of $182.09 and a twelve month high of $281.70. The company’s fifty day moving average is $270.67 and its 200 day moving average is $260.46.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Sell-side analysts forecast that Danaher will post 7.59 EPS for the current year.

Insider Activity

In other news, CEO Rainer Blair sold 9,007 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now owns 97,983 shares in the company, valued at $27,435,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Danaher news, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rainer Blair sold 9,007 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,659 shares of company stock worth $11,042,433 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Danaher

Several institutional investors have recently added to or reduced their stakes in the stock. Tsfg LLC boosted its stake in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Danaher in the 2nd quarter worth approximately $25,000. nVerses Capital LLC bought a new position in Danaher during the second quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Danaher in the first quarter worth $30,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Danaher in the second quarter valued at $51,000. Institutional investors own 79.05% of the company’s stock.

About Danaher

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.