Danaher (NYSE:DHR) Raised to “Buy” at Bank of America

Danaher (NYSE:DHR) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $290.00 price target on the conglomerate’s stock. Bank of America‘s target price suggests a potential upside of 23.46% from the stock’s current price.

A number of other research analysts have also commented on DHR. Stephens restated an “overweight” rating and issued a $315.00 target price on shares of Danaher in a research note on Wednesday, October 23rd. UBS Group dropped their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company started coverage on shares of Danaher in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective on Danaher from $333.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $287.95.

Danaher Price Performance

Shares of Danaher stock opened at $234.89 on Friday. The firm has a fifty day moving average price of $246.92 and a two-hundred day moving average price of $257.42. Danaher has a fifty-two week low of $222.53 and a fifty-two week high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The company has a market cap of $169.66 billion, a PE ratio of 44.83, a price-to-earnings-growth ratio of 4.33 and a beta of 0.83.

Danaher (NYSE:DHR) last released its 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 business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. Analysts expect that Danaher will post 7.5 EPS for the current year.

Hedge Funds Weigh In On Danaher

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Danaher by 15.8% during the third quarter. FMR LLC now owns 23,617,424 shares of the conglomerate’s stock worth $6,566,116,000 after purchasing an additional 3,217,631 shares during the period. TD Asset Management Inc grew its position in shares of Danaher by 99.0% during the 2nd quarter. TD Asset Management Inc now owns 1,358,706 shares of the conglomerate’s stock worth $339,473,000 after buying an additional 675,952 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Danaher by 22.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,047,728 shares of the conglomerate’s stock valued at $761,475,000 after acquiring an additional 563,546 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Danaher by 40,196.5% in the 3rd quarter. International Assets Investment Management LLC now owns 429,964 shares of the conglomerate’s stock valued at $119,539,000 after acquiring an additional 428,897 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in Danaher by 30.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,705,884 shares of the conglomerate’s stock worth $465,617,000 after acquiring an additional 397,671 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Danaher

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.