Danaher (NYSE:DHR) Stock Price Up 4.3%

Danaher Co. (NYSE:DHR)’s stock price rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $220.23 and last traded at $220.07. Approximately 1,670,539 shares changed hands during trading, a decline of 43% from the average daily volume of 2,932,578 shares. The stock had previously closed at $211.03.

Analyst Ratings Changes

DHR has been the topic of several research reports. Bank of America boosted their price target on Danaher from $250.00 to $280.00 in a research note on Wednesday, July 26th. Royal Bank of Canada decreased their price target on shares of Danaher from $246.00 to $239.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 25th. TheStreet cut shares of Danaher from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. The Goldman Sachs Group lowered their target price on shares of Danaher from $250.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, StockNews.com assumed coverage on shares of Danaher in a research note on Wednesday, November 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.73.

Danaher Stock Performance

The firm has a fifty day simple moving average of $217.15 and a 200-day simple moving average of $234.50. The stock has a market cap of $162.55 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.08 and a beta of 0.81. The company has a current ratio of 2.26, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.19. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.60 billion. Danaher had a net margin of 20.01% and a return on equity of 13.71%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 EPS. Analysts forecast that Danaher Co. will post 8.36 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.49%. Danaher’s dividend payout ratio is 13.62%.

Institutional Trading of Danaher

Several hedge funds have recently added to or reduced their stakes in DHR. Spears Abacus Advisors LLC raised its holdings in Danaher by 1.4% during the 3rd quarter. Spears Abacus Advisors LLC now owns 137,677 shares of the conglomerate’s stock worth $34,158,000 after buying an additional 1,943 shares during the period. Carlson Capital Management raised its holdings in shares of Danaher by 8.5% during the third quarter. Carlson Capital Management now owns 3,660 shares of the conglomerate’s stock worth $908,000 after acquiring an additional 286 shares during the period. Hohimer Wealth Management LLC bought a new stake in Danaher in the 3rd quarter valued at $2,846,000. Tompkins Financial Corp boosted its stake in Danaher by 6.5% in the 3rd quarter. Tompkins Financial Corp now owns 29,613 shares of the conglomerate’s stock worth $7,347,000 after purchasing an additional 1,796 shares during the period. Finally, Creative Planning raised its stake in shares of Danaher by 14.9% in the 3rd quarter. Creative Planning now owns 107,895 shares of the conglomerate’s stock valued at $26,769,000 after purchasing an additional 13,987 shares during the period. Institutional investors and hedge funds own 76.71% of the company’s stock.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.