Danaher (NYSE:DHR) Posts Earnings Results, Beats Estimates By $0.15 EPS

Danaher (NYSE:DHR) released its quarterly earnings results on Tuesday. The conglomerate reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.15, Briefing.com reports. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 10.90%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share.

Danaher Trading Up 0.6 %

Shares of DHR opened at $265.76 on Thursday. The firm has a fifty day simple moving average of $254.89 and a two-hundred day simple moving average of $248.67. Danaher has a twelve month low of $182.09 and a twelve month high of $272.98. The stock has a market capitalization of $196.85 billion, a P/E ratio of 45.04, a PEG ratio of 4.11 and a beta of 0.83. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.41%. Danaher’s dividend payout ratio is currently 18.31%.

Analysts Set New Price Targets

Several analysts have weighed in on DHR shares. SVB Leerink raised their price target on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays raised their target price on shares of Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com cut shares of Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Jefferies Financial Group started coverage on shares of Danaher in a research report on Monday, June 3rd. They set a “buy” rating and a $295.00 price objective on the stock. Finally, Bank of America increased their target price on Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.88.

Insider Activity

In related news, CEO Rainer Blair sold 19,085 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $255.00, for a total transaction of $4,866,675.00. Following the completion of the transaction, the chief executive officer now owns 115,995 shares in the company, valued at $29,578,725. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Rainer Blair sold 19,085 shares of Danaher stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $255.00, for a total transaction of $4,866,675.00. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at $29,578,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total transaction of $172,454.64. Following the sale, the director now directly owns 116,202 shares in the company, valued at approximately $28,304,483.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,175 shares of company stock valued at $19,161,154. Insiders own 11.10% 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.