Danaher (NYSE:DHR) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Danaher (NYSE:DHR) announced its earnings results on Monday. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10, Briefing.com reports. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.11 billion. During the same quarter last year, the business earned $0.77 earnings per share. Danaher’s revenue was up 5.5% compared to the same quarter last year.

Danaher Trading Down 1.0%

NYSE DHR opened at $201.70 on Tuesday. The firm has a market capitalization of $142.76 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 2.51 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. Danaher has a one year low of $160.93 and a one year high of $242.80. The company’s 50 day moving average price is $183.97 and its 200 day moving average price is $198.04.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher’s dividend payout ratio (DPR) is presently 30.95%.

Institutional Investors Weigh In On Danaher

Several large investors have recently made changes to their positions in the business. GW&K Investment Management LLC boosted its stake in shares of Danaher by 8.4% during the 4th quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate’s stock valued at $138,000 after purchasing an additional 47 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in Danaher by 0.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate’s stock worth $3,057,000 after buying an additional 48 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in Danaher by 0.6% in the second quarter. Snowden Capital Advisors LLC now owns 9,919 shares of the conglomerate’s stock worth $1,963,000 after buying an additional 55 shares in the last quarter. Cloud Capital Management LLC lifted its holdings in Danaher by 2.8% in the fourth quarter. Cloud Capital Management LLC now owns 2,112 shares of the conglomerate’s stock worth $484,000 after buying an additional 57 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its holdings in Danaher by 3.6% in the third quarter. CYBER HORNET ETFs LLC now owns 1,750 shares of the conglomerate’s stock worth $347,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DHR shares. Wells Fargo & Company cut their price target on Danaher from $240.00 to $212.00 and set an “equal weight” rating for the company in a report on Wednesday, April 22nd. Citigroup began coverage on Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price objective on the stock. Rothschild & Co Redburn set a $205.00 price objective on Danaher in a research report on Friday, April 17th. UBS Group dropped their target price on Danaher from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Finally, Robert W. Baird reduced their target price on Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.64.

Key Headlines Impacting Danaher

Here are the key news stories impacting Danaher this week:

• Positive Sentiment: Danaher reported Q2 earnings of $1.94 per share, topping expectations, which shows the company continues to deliver solid profitability. Danaher (DHR) Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: The company also raised its annual profit forecast, which is supportive for full-year earnings but not enough to offset investor concerns about growth. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise
• Negative Sentiment: Danaher cut its core revenue growth outlook and posted weaker-than-expected biotechnology revenue, which is weighing on the stock and signaling softer demand in a key business line. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.