Q1 2024 EPS Estimates for Danaher Co. Cut by Zacks Research (NYSE:DHR)

Danaher Co. (NYSE:DHR) – Investment analysts at Zacks Research decreased their Q1 2024 earnings per share (EPS) estimates for Danaher in a report issued on Wednesday, April 17th. Zacks Research analyst R. Department now anticipates that the conglomerate will earn $1.72 per share for the quarter, down from their prior forecast of $1.74. The consensus estimate for Danaher’s current full-year earnings is $7.62 per share. Zacks Research also issued estimates for Danaher’s Q2 2024 earnings at $1.62 EPS, Q3 2024 earnings at $1.90 EPS, Q4 2024 earnings at $2.34 EPS, Q3 2025 earnings at $2.14 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.47 EPS, Q1 2026 earnings at $2.25 EPS and FY2026 earnings at $10.01 EPS.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, January 30th. The conglomerate reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.18. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.10 billion. Danaher had a net margin of 17.26% and a return on equity of 12.25%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 earnings per share.

Other research analysts have also recently issued reports about the company. Citigroup lifted their price target on Danaher from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. KeyCorp increased their price target on shares of Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com cut shares of Danaher from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Barclays increased their target price on shares of Danaher from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada raised their target price on Danaher from $254.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $268.27.

Danaher Stock Performance

NYSE DHR opened at $235.37 on Thursday. The firm has a market capitalization of $174.30 billion, a P/E ratio of 36.83, a PEG ratio of 3.64 and a beta of 0.83. The stock has a 50-day simple moving average of $248.94 and a two-hundred day simple moving average of $230.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.37 and a current ratio of 1.68. Danaher has a fifty-two week low of $182.09 and a fifty-two week high of $259.00.

Danaher Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 28th will be issued a $0.27 dividend. This is an increase from Danaher’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. Danaher’s dividend payout ratio is presently 16.90%.

Insiders Place Their Bets

In related news, SVP Daniel Raskas sold 23,757 shares of Danaher stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $252.00, for a total transaction of $5,986,764.00. Following the transaction, the senior vice president now owns 38,102 shares in the company, valued at $9,601,704. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Georgeann Couchara sold 2,622 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $242.67, for a total value of $636,280.74. Following the transaction, the senior vice president now owns 4,244 shares of the company’s stock, valued at approximately $1,029,891.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel Raskas sold 23,757 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $252.00, for a total transaction of $5,986,764.00. Following the transaction, the senior vice president now directly owns 38,102 shares of the company’s stock, valued at approximately $9,601,704. The disclosure for this sale can be found here. Insiders have sold 32,957 shares of company stock valued at $8,265,802 in the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Danaher

A number of hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in Danaher by 96,490.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,287,013 shares of the conglomerate’s stock valued at $6,180,839,000 after acquiring an additional 23,262,904 shares during the period. Norges Bank purchased a new position in Danaher in the 4th quarter valued at approximately $2,057,164,000. Wellington Management Group LLP grew its stake in shares of Danaher by 18.6% in the third quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock worth $6,185,203,000 after acquiring an additional 3,905,449 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Danaher by 214.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,073,661 shares of the conglomerate’s stock valued at $711,051,000 after purchasing an additional 2,096,038 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Danaher by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock worth $3,876,694,000 after purchasing an additional 1,619,586 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Danaher

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.