Danaher (NYSE:DHR) Announces Earnings Results

Danaher (NYSE:DHR) released its earnings results on Monday. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.10, Briefing.com reports. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.11 billion. During the same quarter last year, the business posted $0.77 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis.

Danaher Trading Down 13.7%

DHR stock opened at $173.49 on Tuesday. Danaher has a 12 month low of $160.93 and a 12 month high of $242.80. The firm’s 50-day moving average is $183.97 and its 200 day moving average is $198.04. The company has a market capitalization of $122.79 billion, a PE ratio of 32.38, a P/E/G ratio of 2.51 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Danaher’s dividend payout ratio is presently 30.95%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group decreased their price target on shares of Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 target price on shares of Danaher in a report on Tuesday, April 21st. Wall Street Zen downgraded Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. cut their price target on Danaher from $275.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company decreased their price objective on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and a consensus price target of $231.64.

Hedge Funds Weigh In On Danaher

A number of institutional investors have recently modified their holdings of DHR. Sivia Capital Partners LLC lifted its position in Danaher by 6.3% during the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate’s stock valued at $397,000 after acquiring an additional 119 shares during the last quarter. Prosperity Bancshares Inc acquired a new stake in Danaher in the fourth quarter worth about $162,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Danaher during the fourth quarter worth about $154,000. Quarry LP increased its holdings in shares of Danaher by 345.7% during the fourth quarter. Quarry LP now owns 419 shares of the conglomerate’s stock valued at $96,000 after acquiring an additional 325 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Danaher by 144.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 715 shares of the conglomerate’s stock valued at $164,000 after acquiring an additional 422 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Danaher

Here are the key news stories impacting Danaher this week:

• Positive Sentiment: Danaher reported Q2 earnings of $1.94 per share, topping expectations, which shows the company continues to deliver solid profitability. Danaher (DHR) Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: The company also raised its annual profit forecast, which is supportive for full-year earnings but not enough to offset investor concerns about growth. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise
• Negative Sentiment: Danaher cut its core revenue growth outlook and posted weaker-than-expected biotechnology revenue, which is weighing on the stock and signaling softer demand in a key business line. Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.