Key Points
- Danaher EVP Gregory Milosevich sold 2,100 shares for about $484,302, reducing his stake by 8.58%; he retained 22,367 shares.
- Danaher reported quarterly EPS of $2.11, beating estimates of $1.92. Revenue was $6.55 billion, slightly below estimates, but rose 8.3% year over year.
- Analysts maintain a consensus “Moderate Buy” rating and a $242.91 price target; 18 analysts rate the stock Buy and five rate it Hold.
Danaher Corporation (NYSE:DHR - Get Free Report) EVP Gregory Milosevich sold 2,100 shares of the firm's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $230.62, for a total transaction of $484,302.00. Following the sale, the executive vice president owned 22,367 shares in the company, valued at approximately $5,158,277.54. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Danaher Stock Performance
NYSE DHR opened at $236.41 on Wednesday. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.29 and a current ratio of 1.63. The company has a market capitalization of $166.32 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.95 and a beta of 0.76. The company has a fifty day moving average of $221.10 and a 200-day moving average of $201.55.
Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.19. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.56 billion. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, equities research analysts predict that Danaher Corporation will post 8.59 EPS for the current fiscal year.
Danaher Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.7%. Danaher's payout ratio is 26.19%.
Analysts Set New Price Targets
Several brokerages have recently commented on DHR. Guggenheim increased their price objective on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $275.00 target price on shares of Danaher in a research note on Thursday, October 22nd. Finally, Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a research report on Monday, October 26th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $242.91.
Get Our Latest Stock Analysis on DHR
Institutional Investors Weigh In On Danaher
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Danaher during the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP increased its position in shares of Danaher by 10.4% in the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock valued at $3,108,031,000 after acquiring an additional 1,542,310 shares during the period. Jupiter Topco LLC purchased a new position in shares of Danaher in the second quarter valued at about $1,456,317,000. Generation Investment Management LLP bought a new position in shares of Danaher during the second quarter valued at about $1,287,949,000. Finally, Bank of America Corp DE bought a new position in shares of Danaher during the second quarter valued at about $993,846,000. 79.05% of the stock is currently owned by institutional investors.
About Danaher
(
Get Free Report)
Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company's businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.
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