Danaher (NYSE:DHR) Shares Gap Down After Analyst Downgrade

Danaher Co. (NYSE:DHRGet Free Report)’s share price gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $285.00 to $265.00. The stock had previously closed at $247.84, but opened at $235.02. Citigroup currently has a buy rating on the stock. Danaher shares last traded at $230.31, with a volume of 3,000,262 shares trading hands.

Several other research analysts have also commented on DHR. KeyCorp lifted their price target on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wolfe Research raised Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 target price for the company in a research note on Thursday, October 31st. Jefferies Financial Group reduced their target price on Danaher from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus increased their target price on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their price target on Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.00.

View Our Latest Stock Report on Danaher

Hedge Funds Weigh In On Danaher

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC boosted its stake in Danaher by 3.2% in the third quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate’s stock valued at $342,000 after acquiring an additional 38 shares in the last quarter. Meridian Financial Partners LLC grew its stake in Danaher by 4.4% during the 3rd quarter. Meridian Financial Partners LLC now owns 957 shares of the conglomerate’s stock worth $266,000 after buying an additional 40 shares during the last quarter. Kovack Advisors Inc. increased its position in Danaher by 3.4% during the third quarter. Kovack Advisors Inc. now owns 1,243 shares of the conglomerate’s stock worth $346,000 after buying an additional 41 shares during the period. Well Done LLC lifted its stake in Danaher by 1.2% in the third quarter. Well Done LLC now owns 3,551 shares of the conglomerate’s stock valued at $987,000 after buying an additional 42 shares during the last quarter. Finally, Waypoint Capital Advisors LLC boosted its holdings in shares of Danaher by 0.9% in the third quarter. Waypoint Capital Advisors LLC now owns 4,520 shares of the conglomerate’s stock valued at $1,257,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Trading Down 0.3 %

The business’s 50-day moving average price is $235.89 and its 200-day moving average price is $253.45. The firm has a market capitalization of $161.19 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 4.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01.

Danaher (NYSE:DHRGet Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. During the same period in the previous year, the firm posted $2.09 EPS. As a group, analysts expect that Danaher Co. will post 7.5 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.48%. Danaher’s payout ratio is currently 20.61%.

About Danaher

(Get Free Report)

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.

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