Royal Bank of Canada Downgrades Danaher (NYSE:DHR) to Sector Perform

Danaher (NYSE:DHR) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday.

Several other research analysts have also issued reports on the company. Robert W. Baird reaffirmed a “buy” rating and set a $136.00 target price on shares of Danaher in a research report on Monday. UBS Group boosted their price target on Danaher from $165.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Wells Fargo & Co began coverage on Danaher in a research note on Tuesday, January 7th. They set an “overweight” rating and a $170.00 price target on the stock. Zacks Investment Research downgraded Danaher from a “hold” rating to a “sell” rating and set a $168.00 price target on the stock. in a research note on Tuesday, January 14th. Finally, Piper Sandler boosted their price target on Danaher from to in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Danaher presently has an average rating of “Buy” and an average target price of $166.41.

NYSE:DHR traded up $9.34 during mid-day trading on Thursday, hitting $138.66. 5,268,591 shares of the company’s stock traded hands, compared to its average volume of 3,348,842. The company has a fifty day moving average of $148.72 and a 200 day moving average of $147.42. Danaher has a twelve month low of $119.60 and a twelve month high of $169.19. The company has a market capitalization of $89.92 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.14 and a beta of 0.96. 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 (NYSE:DHR) last announced its earnings results on Thursday, January 30th. The conglomerate reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.03. Danaher had a return on equity of 11.50% and a net margin of 15.09%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that Danaher will post 5.38 earnings per share for the current fiscal year.

In other news, SVP William King sold 26,370 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $160.23, for a total value of $4,225,265.10. Following the sale, the senior vice president now owns 22,427 shares in the company, valued at $3,593,478.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Mcgrew sold 11,304 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $161.98, for a total value of $1,831,021.92. Following the completion of the sale, the chief financial officer now owns 21,320 shares in the company, valued at approximately $3,453,413.60. The disclosure for this sale can be found here. Insiders sold 297,385 shares of company stock worth $48,153,397 in the last 90 days. Company insiders own 11.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Danaher during the fourth quarter worth approximately $1,095,974,000. Goldman Sachs Group Inc. boosted its position in 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 in the last quarter. Janus Henderson Group PLC boosted its position in 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 in the last quarter. Madison Asset Management LLC purchased a new position in Danaher during the fourth quarter worth approximately $59,030,000. Finally, Loomis Sayles & Co. L P boosted its position in Danaher by 30.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,651,040 shares of the conglomerate’s stock worth $253,402,000 after purchasing an additional 382,882 shares in the last quarter. Hedge funds and other institutional investors 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.

Read More: Cost of Goods Sold (COGS)

Analyst Recommendations for Danaher (NYSE:DHR)

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