Imprint Wealth LLC purchased a new position in shares of Danaher Co. (NYSE:DHR – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 127,202 shares of the conglomerate’s stock, valued at approximately $12,720,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its position in shares of Danaher by 14.1% during the 2nd quarter. Atria Investments Inc now owns 36,863 shares of the conglomerate’s stock valued at $8,846,000 after acquiring an additional 4,549 shares during the period. Venture Visionary Partners LLC lifted its holdings in shares of Danaher by 0.6% in the second quarter. Venture Visionary Partners LLC now owns 8,022 shares of the conglomerate’s stock valued at $1,925,000 after purchasing an additional 46 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Danaher during the 2nd quarter worth approximately $39,043,000. Phraction Management LLC raised its position in shares of Danaher by 141.2% during the 2nd quarter. Phraction Management LLC now owns 29,578 shares of the conglomerate’s stock worth $7,099,000 after purchasing an additional 17,315 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Danaher by 0.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,189,703 shares of the conglomerate’s stock valued at $285,529,000 after buying an additional 8,284 shares during the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.
Analyst Upgrades and Downgrades
DHR has been the subject of several analyst reports. Royal Bank of Canada cut their price target on Danaher from $246.00 to $239.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. JPMorgan Chase & Co. reduced their price objective on Danaher from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Raymond James dropped their price objective on shares of Danaher from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Stifel Nicolaus reduced their price objective on Danaher from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, July 26th. Finally, The Goldman Sachs Group lowered their target price on Danaher from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $257.73.
Danaher Price Performance
Shares of DHR traded up $2.58 during mid-day trading on Monday, hitting $210.36. The company’s stock had a trading volume of 954,367 shares, compared to its average volume of 2,932,010. The stock has a market capitalization of $155.44 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.08 and a beta of 0.81. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $281.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.26 and a quick ratio of 1.94. The firm has a 50-day moving average price of $217.93 and a 200 day moving average price of $234.72.
Danaher (NYSE:DHR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.19. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.60 billion. Danaher had a return on equity of 13.71% and a net margin of 20.01%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.56 EPS. On average, research analysts predict that Danaher Co. will post 8.36 EPS for the current fiscal year.
Danaher Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, October 12th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, October 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.51%. Danaher’s dividend payout ratio is currently 13.62%.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.
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