Danaher (NYSE:DHR) Shares Gap Down – What’s Next?

Danaher Co. (NYSE:DHR) gapped down prior to trading on Tuesday . The stock had previously closed at $272.09, but opened at $264.03. Danaher shares last traded at $265.82, with a volume of 701,234 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DHR. The Goldman Sachs Group raised their target price on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Raymond James decreased their target price on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays reduced their target price on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a report on Wednesday. KeyCorp lifted their price target on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI upped their price objective on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $287.28.

Danaher Price Performance

The company has a market capitalization of $189.62 billion, a PE ratio of 43.39, a P/E/G ratio of 4.49 and a beta of 0.83. The stock has a 50 day moving average price of $270.43 and a two-hundred day moving average price of $260.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.43.

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. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that Danaher Co. will post 7.59 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s dividend payout ratio is 18.31%.

Insider Transactions at Danaher

In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares in the company, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Danaher news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the sale, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,059 shares of company stock worth $8,400,897. 11.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Danaher

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tsfg LLC grew its holdings in shares of Danaher by 733.3% in the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Danaher during the second quarter valued at $25,000. nVerses Capital LLC bought a new position in Danaher in the second quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in Danaher in the first quarter worth about $30,000. Finally, MFA Wealth Advisors LLC acquired a new position in Danaher during the 2nd quarter valued at about $51,000. Institutional investors own 79.05% of the company’s stock.

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.