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

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

DHR has been the subject of several other reports. Wells Fargo & Co began coverage on Danaher in a research report on Tuesday, January 7th. They set an “overweight” rating and a $170.00 price target for the company. Bank of America raised their price target on Danaher from $165.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Credit Suisse Group raised their price target on Danaher from $151.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Zacks Investment Research lowered Danaher from a “hold” rating to a “sell” rating and set a $168.00 price target for the company. in a research report on Tuesday, January 14th. Finally, Cowen restated a “buy” rating and set a $170.00 price target on shares of Danaher in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Danaher currently has an average rating of “Buy” and a consensus price target of $166.41.

Danaher stock traded up $9.34 during mid-day trading on Thursday, hitting $138.66. The company’s stock had a trading volume of 5,268,591 shares, compared to its average volume of 3,348,842. Danaher has a 1 year low of $119.60 and a 1 year high of $169.19. The stock’s fifty day moving average is $148.72 and its two-hundred day moving average is $147.42. The firm has a market capitalization of $89.92 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 2.14 and a beta of 0.96. The company has a current ratio of 5.19, a quick ratio of 4.86 and a debt-to-equity ratio of 0.75.

Danaher (NYSE:DHR) last released its quarterly earnings results on Thursday, January 30th. The conglomerate reported $1.28 EPS for the quarter, topping the 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 business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Danaher will post 5.38 EPS for the current fiscal year.

In related news, SVP William King sold 26,370 shares of Danaher stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 22,427 shares in the company, valued at $3,593,478.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donald J. Ehrlich sold 6,014 shares of Danaher stock in a transaction on Monday, February 10th. The shares were sold at an average price of $163.13, for a total value of $981,063.82. Following the completion of the transaction, the director now owns 129,217 shares of the company’s stock, valued at $21,079,169.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,385 shares of company stock valued at $48,153,397. 11.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of DHR. Norges Bank acquired a new stake in Danaher in the fourth quarter valued at $1,095,974,000. Goldman Sachs Group Inc. raised its stake in Danaher by 26.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,296,233 shares of the conglomerate’s stock valued at $812,866,000 after buying an additional 1,110,841 shares in the last quarter. Janus Henderson Group PLC raised its stake in Danaher by 12.8% in the fourth quarter. Janus Henderson Group PLC now owns 5,210,644 shares of the conglomerate’s stock valued at $799,731,000 after buying an additional 592,810 shares in the last quarter. Madison Asset Management LLC acquired a new stake in Danaher in the fourth quarter valued at $59,030,000. Finally, Loomis Sayles & Co. L P raised its stake in Danaher by 30.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,651,040 shares of the conglomerate’s stock valued at $253,402,000 after buying an additional 382,882 shares in the last quarter. 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.

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