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

Danaher (NYSE:DHR) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $290.00 target price on the conglomerate’s stock. Bank of America‘s price target points to a potential upside of 23.46% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their price target on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird dropped their target price on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $315.00 target price on shares of Danaher in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their target price on Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.95.

Danaher Stock Up 0.2 %

NYSE DHR opened at $234.89 on Friday. Danaher has a 12 month low of $222.53 and a 12 month high of $281.70. The company has a market capitalization of $169.66 billion, a P/E ratio of 44.83, a PEG ratio of 4.33 and a beta of 0.83. The company’s 50 day simple moving average is $246.92 and its 200 day simple moving average is $257.42. 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 posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 10.62% and a net margin of 16.39%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. Equities research analysts expect that Danaher will post 7.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Danaher

Several institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC lifted its holdings in Danaher by 10.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 939,335 shares of the conglomerate’s stock worth $261,154,000 after purchasing an additional 85,839 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its stake in shares of Danaher by 13.9% in the third quarter. Garden State Investment Advisory Services LLC now owns 1,196 shares of the conglomerate’s stock worth $333,000 after buying an additional 146 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Danaher during the 3rd quarter worth $24,204,000. Peapack Gladstone Financial Corp grew its stake in Danaher by 2.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 106,616 shares of the conglomerate’s stock valued at $29,641,000 after buying an additional 2,314 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in Danaher by 8.5% in the 3rd quarter. Tidal Investments LLC now owns 52,947 shares of the conglomerate’s stock worth $14,720,000 after acquiring an additional 4,156 shares during the period. 79.05% of the stock is currently 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.