Stock Update (NYSE:DHR): Danaher Announces Anticipated Fortive Separation Date

[PR Newswire] – WASHINGTON, May 4, 2016 /PRNewswire/ — Danaher Corporation (DHR) (the “Company”) today announced that it expects to complete the spin-off of Fortive Corporation on July 2, 2016. Upon completion of the spin-off, Danaher common stockholders will receive a stock dividend of one share of Fortive common stock for every two shares of Danaher common stock they hold as of the spin-off record date, which is expected to be June 15, 2016. Prior to consummation of the spin-off, Danaher will mail to Danaher common stockholders as of the record date an Information Statement containing information about Fortive and the spin-off. Read more on this. Danaher Corp. (DHR) , valued at $65.96B, started trading this morning at $95.70. During today’s session, DHR traded between $95.70 to $96.62 with a one year range of $81.25 to $97.62. Priced at 19.79x this year’s forecasted earnings, DHR shares are relatively expensive compared to the industry’s 14.47x forward p/e ratio. And for income investors, the company pays shareholders $0.64 per share annually in dividends, yielding 0.66%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.23 per share, which would be $0.15 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $4.92 is a $0.62 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.77 Billion. If realized, that would be a 12.48% increase over the year-ago quarter. In terms of ratings, Bernstein downgraded DHR from Outperform to Mkt Perform (Apr 4, 2016). Previously, Sterne Agee CRT Initiated DHR at to Neutral. Investors should keep in mind is that the average price target is $103.15, which is 7.78% above where the stock opened this morning. See more in (NYSE:DHR) Similar Articles: Company Update: Danaher Corporation (NYSE:DHR) – Danaher Schedules First Quarter 2016 Earnings Conference Call Stock Update: Danaher Corporation (NYSE:DHR) – Danaher Announces Quarterly Dividend Company Update: Danaher Corporation (NYSE:DHR) – Danaher Announces New Diversified Industrial Growth Company To Be Named Fortive Corporation