Lord Abbett & CO. LLC Buys 85,839 Shares of Danaher Co. (NYSE:DHR)

Lord Abbett & CO. LLC lifted its position in Danaher Co. (NYSE:DHR) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,335 shares of the conglomerate’s stock after acquiring an additional 85,839 shares during the quarter. Danaher makes up approximately 0.8% of Lord Abbett & CO. LLC’s portfolio, making the stock its 20th largest position. Lord Abbett & CO. LLC owned about 0.13% of Danaher worth $261,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DHR. nVerses Capital LLC purchased a new stake in Danaher in the 2nd quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Danaher during the second quarter valued at approximately $25,000. Teachers Insurance & Annuity Association of America bought a new stake in Danaher during the third quarter worth $39,000. MidAtlantic Capital Management Inc. purchased a new position in Danaher in the third quarter worth $40,000. Finally, FSA Wealth Management LLC bought a new position in Danaher in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Shares of NYSE DHR opened at $234.99 on Friday. The stock’s 50-day simple moving average is $246.92 and its two-hundred day simple moving average is $257.43. The firm has a market capitalization of $169.73 billion, a P/E ratio of 44.85, a P/E/G ratio of 4.33 and a beta of 0.83. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. Danaher Co. has a twelve month low of $222.53 and a twelve month high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $2.02 earnings per share. As a group, equities analysts anticipate that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company started coverage on shares of Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 target price for the company. Wolfe Research upgraded Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Thursday, October 31st. Evercore ISI raised their target price on Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus upped their price target on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.95.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.