Royal Bank of Canada grew its holdings in Danaher Corporation (NYSE:DHR – Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,299,528 shares of the conglomerate’s stock after buying an additional 96,457 shares during the period. Royal Bank of Canada’s holdings in Danaher were worth $625,591,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHR. Empowered Funds LLC boosted its holdings in shares of Danaher by 73.3% during the 1st quarter. Empowered Funds LLC now owns 49,650 shares of the conglomerate’s stock worth $9,414,000 after buying an additional 21,000 shares during the period. Evelyn Partners Investment Management Services Ltd grew its stake in Danaher by 45.0% in the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 1,041 shares of the conglomerate’s stock valued at $197,000 after buying an additional 323 shares during the last quarter. Ashford Capital Management Inc. raised its holdings in Danaher by 2.1% in the 1st quarter. Ashford Capital Management Inc. now owns 10,123 shares of the conglomerate’s stock valued at $1,919,000 after acquiring an additional 204 shares during the period. Maverick Capital Ltd. acquired a new stake in Danaher during the first quarter worth approximately $155,411,000. Finally, Quantinno Capital Management LP lifted its position in Danaher by 68.8% during the first quarter. Quantinno Capital Management LP now owns 401,864 shares of the conglomerate’s stock worth $76,193,000 after acquiring an additional 163,811 shares during the last quarter. 79.05% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on DHR shares. Guggenheim reduced their target price on shares of Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. UBS Group reduced their price target on Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Danaher in a report on Tuesday, April 21st. Morgan Stanley cut their target price on Danaher from $270.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Finally, Piper Sandler started coverage on Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $228.91.
Danaher Stock Up 1.3%
DHR stock opened at $199.07 on Wednesday. The stock has a market capitalization of $139.94 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The firm has a 50-day moving average price of $186.94 and a 200-day moving average price of $196.22.
Danaher (NYSE:DHR – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. As a group, equities research analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.
Danaher Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given 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 currently 28.42%.
Danaher Company Profile
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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