Danaher (NYSE:DHR) PT Raised to $290.00

Danaher (NYSE:DHR) had its price target raised by Citigroup from $280.00 to $290.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

A number of other brokerages have also recently commented on DHR. HSBC upgraded Danaher from a hold rating to a buy rating and raised their target price for the company from $250.00 to $280.00 in a report on Wednesday, April 17th. Bank of America increased their price target on Danaher from $258.00 to $270.00 and gave the company a neutral rating in a research report on Wednesday. TD Cowen increased their price target on Danaher from $280.00 to $290.00 and gave the company a buy rating in a research report on Wednesday. Raymond James increased their price target on Danaher from $240.00 to $270.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their price target on Danaher from $254.00 to $282.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $270.00.

Danaher Stock Performance

Shares of Danaher stock opened at $246.45 on Wednesday. The business has a 50-day moving average of $248.87 and a 200 day moving average of $231.08. Danaher has a 12 month low of $182.09 and a 12 month high of $259.00. The stock has a market capitalization of $182.54 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 3.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.85 and a quick ratio of 1.37.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the business posted $2.36 EPS. Danaher’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Danaher will post 7.65 earnings per share for the current year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Danaher’s previous quarterly dividend of $0.24. Danaher’s dividend payout ratio (DPR) is 18.31%.

Insider Transactions at Danaher

In other news, Director Teri List sold 3,289 shares of the firm’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 sale, the director now owns 19,726 shares of the company’s stock, valued at approximately $4,898,360.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Teri List sold 3,289 shares of the firm’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 owns 19,726 shares in the company, valued at approximately $4,898,360.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Georgeann Couchara sold 2,622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $242.67, for a total value of $636,280.74. Following the transaction, the senior vice president now owns 4,244 shares in the company, valued at approximately $1,029,891.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,565 shares of company stock valued at $26,641,364. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Danaher by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock valued at $6,460,966,000 after purchasing an additional 2,998,161 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 during the last quarter. Capital International Investors grew its stake 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Danaher by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,183,501 shares of the conglomerate’s stock valued at $2,030,327,000 after purchasing an additional 502,868 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Danaher by 1.7% in the 3rd quarter. Northern Trust Corp now owns 8,100,722 shares of the conglomerate’s stock valued at $2,009,789,000 after purchasing an additional 134,905 shares during the last quarter. Hedge funds and other 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.