Danaher (NYSE:DHR) Stock Dropped to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded Danaher from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $235.41.
• Danaher shares opened at $228.87 after a 1.1% decline, while the company reported quarterly EPS of $1.94 and revenue of $6.26 billion, exceeding analyst expectations.
• Institutional investors own approximately 79.05% of Danaher’s stock, with several smaller investment firms recently increasing or initiating positions.

Danaher (NYSE:DHR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company dropped their target price on Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. The Goldman Sachs Group raised their price target on Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 21st. UBS Group initiated coverage on Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target on the stock. Guggenheim lifted their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Danaher currently has a consensus rating of "Moderate Buy" and an average price target of $235.41.

Danaher Stock Down 1.1%

Shares of NYSE:DHR opened at $228.87 on Friday. Danaher has a 12 month low of $160.93 and a 12 month high of $242.80. The firm has a market cap of $160.89 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.88 and a beta of 0.76. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The company's 50-day moving average price is $214.04 and its two-hundred day moving average price is $195.97.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. As a group, research analysts forecast that Danaher will post 8.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marquette Asset Management LLC boosted its holdings in Danaher by 192.1% during the third quarter. Marquette Asset Management LLC now owns 111 shares of the conglomerate's stock worth $25,000 after buying an additional 73 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Danaher in the 2nd quarter valued at about $25,000. Main Street Group LTD acquired a new stake in shares of Danaher in the 1st quarter valued at approximately $25,000. Field & Main Bank acquired a new stake in shares of Danaher in the 2nd quarter valued at approximately $29,000. Finally, Evolution Wealth Management Inc. boosted its stake in Danaher by 208.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.

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