Danaher Corporation (NYSE: DHR) Loses -0.43% From High. Why That Could Change?

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Wellington Management Co. LLP recently announced the acquisition of new stake in Danaher Corporation (NYSE:DHR). The institutional investor has increased its shareholding in the Healthcare company by 8.01% to 20.42 million shares with purchase of 1.51 million shares. This fresh investment now brings its stake to 2.89% valued currently at $3.61 billion. In addition, Morgan Stanley Investment Managem. raised its holdings by 0.34 million to 8.68 million shares.

With over 2.92 million Danaher Corporation (DHR) shares trading Wednesday and a closing price of $202.13 on the day, the dollar volume was approximately $590.26 million. The shares have shown a positive weekly performance of 2.06% and its price on 07/28/20 gained nearly 1.57%. Currently, there are 705.10M common shares owned by the public and among those 626.56M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for DHR have a consensus price objective of $216.44. The analysts have set the share’s price value over the next 12 months at a high of $235.00 and a low of $178.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Danaher Corporation stock is 1.70 for the next 12 months. The average price target is 3.07% above its last price level and an upside to the estimated low will see the stock lose -13.56% over that period. But an upside of 13.99% will see the stock hit the forecast high price target while mean target price for the stock is $219.00.

Insiders at the company have transacted a total of 130 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 64 of these insider trades were purchases, accounting for 2,688,309 shares. Insider sales of the common stock occurred on 66 occasions, with total insider shares sold totaling 2,413,033 shares.

The top 3 mutual fund holders in Danaher Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market Index owns 18.16 million shares of the company’s stock, all valued at over $3.21 billion. The company bought an additional 0.11 million shares recently to bring their total holdings to about 2.57% of the shares outstanding. Vanguard 500 Index Fund bought 0.21 million shares to see its total holdings expand to 13.06 million shares valued at over $2.31 billion and representing 1.85% of the shares outstanding. Government Pension Fund – Global sold -0.11 million shares to bring its total holdings to over 6.93 million shares at a value of $1.23 billion. Government Pension Fund – Global now owns shares totaling to 0.98% of the shares outstanding.

Shares of Danaher Corporation (NYSE: DHR) opened at $198.69, down -$0.32 from a prior closing price of $199.01. However, the script later closed the day at $202.13, up 1.57%. The company’s stock has a 5-day price change of 2.06% and 20.37% over the past three months. DHR shares are trading 29.67% year to date (YTD), with the 12-month market performance up to 39.48% higher. It has a 12-month low price of $119.60 and touched a high of $203.00 over the same period. Currently, 2.92 million shares have been traded, compared to an average intraday trading volume of 2.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.38%, 14.69%, and 29.47% respectively.

Institutional ownership of Danaher Corporation (NYSE: DHR) shares accounts for 80.20% of the company’s 705.10M shares outstanding. Mutual fund holders own 35.70%, while other institutional holders and individual stakeholders account for 43.77% and 19.09% respectively.

It has a market capitalization of $143.74B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 51.08, while the earnings-per-share (ttm) stands at $3.90. The company has a PEG of 3.92 and a Quick Ratio of 1.70 with the debt-to-equity ratio at 0.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.51% over the week and 2.03% over the month.

Analysts forecast that Danaher Corporation (DHR) will achieve an EPS of $1.36 for the current quarter, $1.62 for the next quarter and $6.43 for 2021. The lowest estimate earnings-per-share for the quarter is $1.3 while analysts give the company a high EPS estimate of $1.44. Comparatively, EPS for the current quarter was $1.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.20%, and 17.90% over the next financial year. EPS should grow at an annualized rate of 13.02% over the next five years, compared to 7.60% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Danaher Corporation (DHR) as a “Strong Buy” at a consensus score of 1.70. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 1 of the 20 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the DHR, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on June 16, 2020, with the firm’s price target at. Wolfe Research coverage for the Danaher Corporation (DHR) stock in a research note released on April 02, 2020 offered a Peer Perform rating with a price target of $154. RBC Capital Mkts was of a view on March 26, 2020 that the stock is Outperform, while Needham gave the stock Buy rating on February 03, 2020, issuing a price target of $167- $187. Wells Fargo on their part issued Overweight rating on January 08, 2020.

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