Danaher Corporation (NYSE:DHR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.05 and last traded at $88.02, with a volume of 1,055,688 shares traded. The stock had previously closed at $87.24.
A number of brokerages recently issued reports on DHR. Wells Fargo & Company began coverage on Danaher Corporation in a report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Danaher Corporation in a report on Friday, August 4th. BidaskClub cut Danaher Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 target price on shares of Danaher Corporation in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $92.72.
The firm’s 50-day moving average is $82.64 and its 200 day moving average is $84.22. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 28.16 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities analysts anticipate that Danaher Corporation will post $3.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 28th. Danaher Corporation’s payout ratio is currently 17.83%.
In other news, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the transaction, the director now directly owns 42,151 shares of the company’s stock, valued at $3,499,797.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William King sold 7,458 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $82.97, for a total value of $618,790.26. Following the transaction, the insider now directly owns 18,245 shares in the company, valued at $1,513,787.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,496 shares of company stock worth $5,916,223. Corporate insiders own 12.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Lee Danner & Bass Inc. lifted its holdings in shares of Danaher Corporation by 0.4% during the first quarter. Lee Danner & Bass Inc. now owns 2,635 shares of the conglomerate’s stock valued at $225,000 after purchasing an additional 10 shares in the last quarter. Norway Savings Bank lifted its holdings in shares of Danaher Corporation by 0.4% during the second quarter. Norway Savings Bank now owns 2,238 shares of the conglomerate’s stock valued at $189,000 after purchasing an additional 10 shares in the last quarter. National Asset Management Inc. lifted its holdings in shares of Danaher Corporation by 0.4% during the second quarter. National Asset Management Inc. now owns 3,767 shares of the conglomerate’s stock valued at $318,000 after purchasing an additional 14 shares in the last quarter. First Financial Corp IN lifted its holdings in shares of Danaher Corporation by 0.8% during the second quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock valued at $230,000 after purchasing an additional 21 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Danaher Corporation by 0.4% during the second quarter. Brighton Jones LLC now owns 5,159 shares of the conglomerate’s stock valued at $435,000 after purchasing an additional 21 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
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About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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