Shorepath Capital Management LLC boosted its position in Danaher Co. (NYSE:DHR – Free Report) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,497 shares of the conglomerate’s stock after buying an additional 4,462 shares during the period. Danaher makes up approximately 5.2% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Shorepath Capital Management LLC’s holdings in Danaher were worth $7,230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Courier Capital LLC increased its stake in shares of Danaher by 29.5% in the fourth quarter. Courier Capital LLC now owns 2,106 shares of the conglomerate’s stock worth $483,000 after acquiring an additional 480 shares during the period. Parisi Gray Wealth Management grew its position in Danaher by 0.5% during the 4th quarter. Parisi Gray Wealth Management now owns 15,749 shares of the conglomerate’s stock worth $3,615,000 after purchasing an additional 73 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Danaher by 132.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 19,278 shares of the conglomerate’s stock valued at $4,425,000 after buying an additional 10,976 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Danaher by 778.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,808 shares of the conglomerate’s stock valued at $2,252,000 after buying an additional 8,692 shares during the period. Finally, Sunflower Bank N.A. boosted its stake in shares of Danaher by 9.5% in the fourth quarter. Sunflower Bank N.A. now owns 1,530 shares of the conglomerate’s stock worth $351,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DHR. Stephens reissued an “overweight” rating and issued a $315.00 price target on shares of Danaher in a report on Wednesday, October 23rd. Citigroup lowered their price target on shares of Danaher from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Evercore ISI lifted their price objective on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Guggenheim assumed coverage on shares of Danaher in a research note on Thursday, December 19th. They set a “buy” rating and a $275.00 target price on the stock. Finally, Robert W. Baird cut their price target on Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $286.80.
Danaher Stock Performance
Shares of Danaher stock opened at $239.83 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The business’s 50 day moving average price is $235.52 and its 200 day moving average price is $253.65. The company has a market cap of $173.22 billion, a price-to-earnings ratio of 45.77, a PEG ratio of 4.32 and a beta of 0.83. Danaher Co. has a one year low of $222.53 and a one year high of $281.70.
Danaher (NYSE:DHR – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Danaher Co. will post 7.5 EPS for the current year.
Danaher Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s payout ratio is presently 20.61%.
About Danaher
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.
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