The Goldman Sachs Group Issues Positive Forecast for Danaher (NYSE:DHR) Stock Price

Key Points

• Goldman Sachs raised Danaher’s price target from $210 to $250 and maintained a “buy” rating, implying 12.72% potential upside.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $230.23 based on 24 analyst ratings.
• Danaher recently exceeded quarterly earnings and revenue expectations, reporting $1.94 EPS and $6.26 billion in revenue, while institutional investors own approximately 79.05% of its shares.

Danaher (NYSE:DHR - Get Free Report) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $210.00 to $250.00 in a report released on Monday. The brokerage currently has a "buy" rating on the conglomerate's stock. The Goldman Sachs Group's price target would indicate a potential upside of 12.72% from the stock's current price.

Several other research firms have also recently issued reports on DHR. UBS Group started coverage on Danaher in a research note on Wednesday, September 9th. They set a "buy" rating and a $250.00 target price on the stock. Royal Bank Of Canada boosted their price target on shares of Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. Wolfe Research cut Danaher from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 1st. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, DZ Bank began coverage on Danaher in a research report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.23.

Danaher Price Performance

Shares of Danaher stock opened at $221.80 on Monday. The company's fifty day simple moving average is $205.26 and its two-hundred day simple moving average is $192.29. Danaher has a 12-month low of $160.93 and a 12-month high of $242.80. The firm has a market cap of $155.92 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

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

Hedge Funds Weigh In On Danaher

Institutional investors and hedge funds have recently modified their holdings of the company. Main Street Group LTD bought a new stake in shares of Danaher during the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new position in shares of Danaher in the second quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in Danaher during the 4th quarter valued at approximately $27,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Danaher by 71.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after acquiring an additional 53 shares in the last quarter. Finally, Evolution Wealth Management Inc. increased its holdings in shares of Danaher by 208.0% in the first quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after purchasing an additional 104 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other 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 businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company's portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.