Sound Income Strategies LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,051 shares of the conglomerate’s stock, valued at approximately $1,341,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Danaher during the second quarter valued at $10,492,520,000. State Street Corp lifted its stake in shares of Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after purchasing an additional 472,608 shares during the period. Wellington Management Group LLP boosted its position in shares of Danaher by 10.4% during the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock valued at $3,108,031,000 after purchasing an additional 1,542,310 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Danaher during the 2nd quarter valued at about $1,456,317,000. Finally, Generation Investment Management LLP acquired a new stake in Danaher during the second quarter worth approximately $1,287,949,000. Institutional investors and hedge funds own 79.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus dropped their target price on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. TD Cowen reduced their price target on shares of Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Guggenheim upped their price objective on shares of Danaher from $200.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.23.
Danaher Stock Performance
NYSE DHR opened at $220.15 on Friday. The company has a market cap of $154.76 billion, a P/E ratio of 39.10, a PEG ratio of 2.71 and a beta of 0.76. The company has a fifty day simple moving average of $211.38 and a 200 day simple moving average of $194.62. 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.
Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.
Danaher Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher’s dividend payout ratio is currently 28.42%.
About Danaher
Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.
The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.
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