Danaher (NYSE:DHR) had its price objective cut by Wells Fargo & Co from $176.00 to $155.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have an overweight rating on the conglomerate’s stock.
DHR has been the topic of several other research reports. Cowen reaffirmed a buy rating and issued a $170.00 price target on shares of Danaher in a report on Monday, February 3rd. Zacks Investment Research cut shares of Danaher from a hold rating to a sell rating and set a $168.00 price target on the stock. in a report on Tuesday, January 14th. Piper Sandler upped their price target on shares of Danaher from to in a report on Thursday, January 30th. Bank of America upped their price target on shares of Danaher from $165.00 to $188.00 and gave the stock a buy rating in a report on Friday, January 31st. Finally, UBS Group upped their target price on shares of Danaher from $165.00 to $176.00 and gave the stock a neutral rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $164.65.
DHR stock traded up $7.73 during midday trading on Monday, reaching $136.43. 5,152,894 shares of the company’s stock traded hands, compared to its average volume of 3,468,043. The company has a 50-day moving average price of $145.68 and a two-hundred day moving average price of $147.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.86 and a current ratio of 5.19. Danaher has a 52 week low of $119.60 and a 52 week high of $169.19. The firm has a market capitalization of $96.46 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 3.13 and a beta of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.53%. This is a positive change from Danaher’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, March 26th. Danaher’s dividend payout ratio is presently 16.29%.
In other Danaher news, CEO Thomas Patrick Joyce, Jr. sold 132,474 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.51, for a total transaction of $21,528,349.74. Following the completion of the sale, the chief executive officer now directly owns 246,027 shares in the company, valued at $39,981,847.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP William King sold 26,370 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $160.23, for a total transaction of $4,225,265.10. Following the sale, the senior vice president now owns 22,427 shares of the company’s stock, valued at $3,593,478.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,385 shares of company stock valued at $48,153,397. Company insiders own 11.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DHR. Geode Capital Management LLC boosted its holdings in shares of Danaher by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 9,478,677 shares of the conglomerate’s stock worth $1,451,692,000 after purchasing an additional 286,929 shares during the period. Norges Bank purchased a new stake in shares of Danaher during the fourth quarter worth about $1,095,974,000. Goldman Sachs Group Inc. boosted its holdings in shares of Danaher by 26.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,296,233 shares of the conglomerate’s stock worth $812,866,000 after purchasing an additional 1,110,841 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Danaher by 12.8% during the fourth quarter. Janus Henderson Group PLC now owns 5,210,644 shares of the conglomerate’s stock worth $799,731,000 after purchasing an additional 592,810 shares during the period. Finally, Parnassus Investments CA boosted its holdings in shares of Danaher by 1.5% during the fourth quarter. Parnassus Investments CA now owns 4,843,305 shares of the conglomerate’s stock worth $743,350,000 after purchasing an additional 70,532 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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