Evercore ISI Cuts Danaher (NYSE:DHR) Price Target to $260.00

Danaher (NYSE:DHR) had its target price trimmed by Evercore ISI from $266.00 to $260.00 in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the conglomerate’s stock.

Several other research firms have also recently commented on DHR. Bank of America raised their target price on shares of Danaher from $258.00 to $270.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. HSBC upgraded shares of Danaher from a hold rating to a buy rating and raised their price objective for the stock from $250.00 to $280.00 in a report on Wednesday, April 17th. TD Cowen upped their target price on Danaher from $280.00 to $290.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Jefferies Financial Group started coverage on Danaher in a research note on Monday, June 3rd. They issued a buy rating and a $295.00 target price for the company. Finally, StockNews.com cut Danaher from a buy rating to a hold rating in a research note on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Danaher has an average rating of Moderate Buy and a consensus target price of $268.67.

Danaher Stock Down 0.2 %

Shares of NYSE:DHR opened at $240.00 on Tuesday. The stock’s 50-day moving average is $255.67 and its 200 day moving average is $246.91. The company has a market cap of $177.77 billion, a PE ratio of 40.68, a P/E/G ratio of 3.68 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 1.51. Danaher has a 1 year low of $182.09 and a 1 year high of $269.11.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the previous year, the firm earned $2.36 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Danaher will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, June 28th. Danaher’s dividend payout ratio (DPR) is 18.31%.

Insiders Place Their Bets

In other news, Director Alan G. Spoon sold 708 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the sale, the director now owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the transaction, the director now owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rainer Blair sold 47,175 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total value of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at $28,908,273.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,783 shares of company stock valued at $37,536,717. Insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DHR. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Danaher by 20.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after buying an additional 1,533 shares during the period. First Citizens Bank & Trust Co. boosted its position in Danaher by 0.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock worth $6,156,000 after purchasing an additional 149 shares during the last quarter. Cercano Management LLC grew its stake in shares of Danaher by 11.4% during the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after purchasing an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Danaher by 48.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after purchasing an additional 96,395 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its stake in shares of Danaher by 5.8% in the 1st quarter. Donaldson Capital Management LLC now owns 1,469 shares of the conglomerate’s stock worth $367,000 after purchasing an additional 80 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.