Danaher Co. (NYSE:DHR – Free Report) – Analysts at Zacks Research decreased their Q3 2023 earnings per share (EPS) estimates for shares of Danaher in a report issued on Tuesday, August 8th. Zacks Research analyst E. Haque now anticipates that the conglomerate will earn $1.87 per share for the quarter, down from their previous estimate of $2.16. The consensus estimate for Danaher’s current full-year earnings is $8.92 per share. Zacks Research also issued estimates for Danaher’s Q4 2023 earnings at $2.48 EPS, FY2023 earnings at $8.75 EPS, Q1 2024 earnings at $2.29 EPS, Q2 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.62 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.45 EPS and FY2025 earnings at $9.99 EPS.
DHR has been the topic of a number of other reports. Wells Fargo & Company raised Danaher from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $275.00 to $285.00 in a research note on Tuesday, April 18th. Barclays lifted their price target on Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Bank of America lifted their price target on Danaher from $250.00 to $280.00 in a research note on Wednesday, July 26th. William Blair reissued an “outperform” rating on shares of Danaher in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada raised their price objective on Danaher from $260.00 to $292.00 in a research report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.13.
Danaher Stock Performance
NYSE:DHR opened at $255.42 on Friday. The stock’s 50-day simple moving average is $243.64 and its 200 day simple moving average is $245.94. The firm has a market capitalization of $188.59 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.73 and a beta of 0.80. The company has a quick ratio of 1.70, a current ratio of 2.08 and a debt-to-equity ratio of 0.35. Danaher has a twelve month low of $221.22 and a twelve month high of $303.82.
Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.04. The business had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.12 billion. Danaher had a return on equity of 15.03% and a net margin of 20.95%. Danaher’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.76 earnings per share.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC purchased a new position in Danaher in the first quarter worth $25,000. Freedom Wealth Alliance LLC bought a new stake in shares of Danaher in the fourth quarter valued at $27,000. Chelsea Counsel Co. bought a new stake in shares of Danaher in the fourth quarter valued at $27,000. Private Ocean LLC raised its stake in shares of Danaher by 1,485.7% in the fourth quarter. Private Ocean LLC now owns 111 shares of the conglomerate’s stock valued at $29,000 after buying an additional 104 shares during the period. Finally, Silicon Valley Capital Partners bought a new stake in shares of Danaher in the first quarter valued at $29,000. Hedge funds and other institutional investors own 75.68% of the company’s stock.
Insider Buying and Selling at Danaher
In other Danaher news, Director Teri List sold 3,490 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.30, for a total value of $918,917.00. Following the completion of the sale, the director now owns 17,494 shares of the company’s stock, valued at $4,606,170.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Joakim Weidemanis sold 22,439 shares of Danaher stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.42, for a total transaction of $5,910,881.38. Following the transaction, the executive vice president now owns 88,689 shares of the company’s stock, valued at $23,362,456.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teri List sold 3,490 shares of Danaher stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $263.30, for a total value of $918,917.00. Following the transaction, the director now directly owns 17,494 shares in the company, valued at approximately $4,606,170.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,179 shares of company stock valued at $16,939,454. Company insiders own 11.10% of the company’s stock.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.
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