Morgan Stanley Raises Danaher (DHR) Price Target to $126.00
Danaher (NYSE:DHR) had its price target lifted by Morgan Stanley from $122.00 to $126.00 in a report published on Wednesday. Morgan Stanley currently has an overweight rating on the conglomerate’s stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Danaher from a hold rating to a buy rating and set a $119.00 price target for the company in a research report on Wednesday, September 19th. Royal Bank of Canada raised their price target on shares of Danaher to $107.00 and gave the company a positive rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. Bank of America set a $113.00 price target on shares of Danaher and gave the company a buy rating in a research report on Thursday, July 19th. Finally, ValuEngine raised shares of Danaher from a hold rating to a buy rating in a research report on Thursday, July 12th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $111.57.
Shares of DHR opened at $103.38 on Wednesday. The company has a market cap of $76.04 billion, a P/E ratio of 25.65, a PEG ratio of 2.08 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.50 and a debt-to-equity ratio of 0.41. Danaher has a twelve month low of $83.81 and a twelve month high of $110.13.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, September 28th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 27th. Danaher’s dividend payout ratio (DPR) is presently 15.88%.
In other Danaher news, CFO Daniel L. Comas sold 77,407 shares of Danaher stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $103.93, for a total value of $8,044,909.51. Following the completion of the sale, the chief financial officer now owns 135,218 shares of the company’s stock, valued at approximately $14,053,206.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William K. Daniel sold 103,086 shares of Danaher stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $100.63, for a total transaction of $10,373,544.18. Following the completion of the sale, the executive vice president now directly owns 167,080 shares of the company’s stock, valued at approximately $16,813,260.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,961 shares of company stock valued at $30,619,691. 11.90% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of DHR. Mitchell Capital Management Co. grew its position in shares of Danaher by 31.6% during the 2nd quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock valued at $786,000 after acquiring an additional 1,914 shares during the period. Private Wealth Partners LLC grew its position in shares of Danaher by 14.3% during the 2nd quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock valued at $9,454,000 after acquiring an additional 11,961 shares during the period. CIBC Asset Management Inc grew its position in shares of Danaher by 12.5% during the 2nd quarter. CIBC Asset Management Inc now owns 68,204 shares of the conglomerate’s stock valued at $6,730,000 after acquiring an additional 7,565 shares during the period. OppenheimerFunds Inc. grew its position in shares of Danaher by 1.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 350,122 shares of the conglomerate’s stock valued at $34,550,000 after acquiring an additional 5,048 shares during the period. Finally, Private Capital Group LLC grew its position in shares of Danaher by 445.0% during the 1st quarter. Private Capital Group LLC now owns 1,744 shares of the conglomerate’s stock valued at $171,000 after acquiring an additional 1,424 shares during the period. 76.90% of the stock is owned by institutional investors and hedge funds.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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