Scotiabank Initiates Coverage on Danaher (NYSE:DHR)

Analysts at Scotiabank assumed coverage on shares of Danaher (NYSE:DHR) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a “sector perform” rating and a $265.00 price target on the conglomerate’s stock. Scotiabank’s target price suggests a potential upside of 14.84% from the stock’s current price.

DHR has been the topic of several other reports. StockNews.com downgraded shares of Danaher from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Guggenheim assumed coverage on shares of Danaher in a research report on Thursday, December 19th. They issued a “buy” rating and a $275.00 price objective on the stock. Stifel Nicolaus increased their target price on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. UBS Group cut their price target on Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Barclays decreased their price objective on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Danaher presently has an average rating of “Moderate Buy” and an average price target of $287.05.

Danaher Stock Performance

Shares of DHR stock opened at $230.75 on Monday. The stock has a 50-day moving average of $242.22 and a 200-day moving average of $256.09. Danaher has a one year low of $222.53 and a one year high of $281.70. The stock has a market cap of $166.66 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 4.33 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:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $2.02 earnings per share. As a group, sell-side analysts expect that Danaher will post 7.5 earnings per share for the current year.

Hedge Funds Weigh In On Danaher

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHR. Coronation Fund Managers Ltd. boosted its stake in shares of Danaher by 29.9% in the second quarter. Coronation Fund Managers Ltd. now owns 6,389 shares of the conglomerate’s stock valued at $1,596,000 after buying an additional 1,470 shares during the period. Allspring Global Investments Holdings LLC raised its position in Danaher by 3.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 295,563 shares of the conglomerate’s stock valued at $73,846,000 after purchasing an additional 9,521 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Danaher during the second quarter worth $482,000. Kintegral Advisory LLC increased its stake in shares of Danaher by 452.0% in the 2nd quarter. Kintegral Advisory LLC now owns 26,738 shares of the conglomerate’s stock valued at $6,688,000 after purchasing an additional 21,894 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its holdings in shares of Danaher by 4.6% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 230,671 shares of the conglomerate’s stock worth $57,633,000 after buying an additional 10,174 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

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 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.