Danaher (NYSE:DHR) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Danaher beat quarterly earnings and revenue expectations. The company reported $1.94 EPS versus the $1.84 consensus estimate, and revenue came in at $6.26 billion versus expectations of $6.11 billion.
• Performance improved year over year. Quarterly revenue rose 5.5% from the same period last year, while EPS jumped from $0.77 a year ago to $1.94 this quarter.
• Shares and outlook remain in focus. Danaher also announced a $0.40 quarterly dividend and continues to have a Moderate Buy analyst rating, though some analysts have recently trimmed price targets.

Danaher (NYSE:DHR - Get Free Report) posted its earnings results on Monday. The conglomerate reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.10, Briefing.com reports. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.11 billion. During the same period in the prior year, the company earned $0.77 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year.

Danaher Stock Performance

Shares of Danaher stock opened at $201.70 on Tuesday. The stock's fifty day moving average is $183.97 and its two-hundred day moving average is $198.04. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $142.76 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79. Danaher has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Danaher's payout ratio is presently 30.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DHR shares. TD Cowen lowered their price objective on shares of Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Morgan Stanley reduced their price objective on Danaher from $270.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Danaher from $275.00 to $245.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, DZ Bank started coverage on Danaher in a research report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $231.64.

Hedge Funds Weigh In On Danaher

A number of institutional investors have recently modified their holdings of DHR. JPL Wealth Management LLC purchased a new stake in shares of Danaher in the third quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new position in Danaher during the 2nd quarter worth $26,000. Transamerica Financial Advisors LLC increased its holdings in Danaher by 216.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 155 shares of the conglomerate's stock worth $36,000 after purchasing an additional 106 shares during the period. Birchwood Financial Partners Inc. bought a new stake in Danaher during the 4th quarter valued at $41,000. Finally, Quattro Advisors LLC bought a new stake in Danaher during the 4th quarter valued at $52,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Danaher

Here are the key news stories impacting Danaher this week:

• Positive Sentiment: Danaher reported Q2 earnings of $1.94 per share, topping expectations, which shows the company continues to deliver solid profitability. Danaher (DHR) Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: The company also raised its annual profit forecast, which is supportive for full-year earnings but not enough to offset investor concerns about growth. Danaher's revenue outlook cut, biotech miss overshadow profit forecast raise
• Negative Sentiment: Danaher cut its core revenue growth outlook and posted weaker-than-expected biotechnology revenue, which is weighing on the stock and signaling softer demand in a key business line. Danaher's revenue outlook cut, biotech miss overshadow profit forecast raise

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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