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.
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)
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