Danaher (NYSE: DHR)‘s stock had its “buy” rating reaffirmed by research analysts at Langenberg & Company in a report released on Monday. They currently have a $66.00 target price on the stock, up from their previous target price of $62.00.
The analysts wrote, “Our 2013 forecast is adjusted to $3.45 from $3.55 – in line with consensus. Tweaks across the model embeds 3% core revenue growth, 100 bps of margin expansion. Danaher basically hit our prior price target and the new figure translates into a 6-7% FCF yield on our forward estimate. The shares are far from a home run at current levels but our “buy list” is very selective right now and we see Danaher as a safe haven, particularly for core growth and tax efficient strategies. For portfolio managers seeking to beat benchmarks we favor UTX and GE first but also see potential in DHR given its strong cash generation (more deals) and leverage to improving growth from China.”
Danaher traded down 0.28% on Monday, hitting $61.40. Danaher has a 1-year low of $49.18 and a 1-year high of $62.14. The stock’s 50-day moving average is currently $60.64. The company has a market cap of $42.381 billion and a price-to-earnings ratio of 18.31.
Danaher last posted its quarterly earnings results on Tuesday, January 29th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Danaher has set its Q1 guidance at $0.72-0.77 EPS and its FY13 guidance at $3.32-3.47 EPS. Analysts expect that Danaher will post $3.45 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Danaher in a research note to investors on Friday. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Danaher from $68.00 to $70.00 in a research note to investors on Monday, February 11th. They now have an “outperform” rating on the stock.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 26th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.03 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, March 26th.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services.
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