Burgundy Asset Management Ltd. Takes Position in Danaher Corporation $DHR

Burgundy Asset Management Ltd. acquired a new position in Danaher Corporation (NYSE:DHR) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 236,772 shares of the conglomerate’s stock, valued at approximately $48,732,000.

Several other large investors have also recently bought and sold shares of the stock. IFG Advisory LLC increased its stake in shares of Danaher by 18.2% during the third quarter. IFG Advisory LLC now owns 2,623 shares of the conglomerate’s stock valued at $520,000 after acquiring an additional 404 shares during the period. Great Lakes Retirement Inc. boosted its stake in Danaher by 46.1% during the 3rd quarter. Great Lakes Retirement Inc. now owns 61,555 shares of the conglomerate’s stock valued at $12,204,000 after purchasing an additional 19,435 shares in the last quarter. Evernest Financial Advisors LLC increased its position in shares of Danaher by 2.5% during the 3rd quarter. Evernest Financial Advisors LLC now owns 4,886 shares of the conglomerate’s stock valued at $969,000 after purchasing an additional 121 shares during the period. Fiduciary Group LLC raised its stake in shares of Danaher by 2.1% in the 3rd quarter. Fiduciary Group LLC now owns 22,823 shares of the conglomerate’s stock worth $4,525,000 after buying an additional 466 shares in the last quarter. Finally, Tillman Hartley LLC lifted its holdings in shares of Danaher by 7.2% in the third quarter. Tillman Hartley LLC now owns 1,152 shares of the conglomerate’s stock valued at $228,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Trading Up 0.4%

NYSE DHR opened at $204.74 on Thursday. The firm’s 50 day moving average price is $223.81 and its two-hundred day moving average price is $216.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $242.80. The stock has a market cap of $144.78 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 2.76 and a beta of 0.93.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, topping the consensus estimate of $2.14 by $0.09. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.Danaher’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. Equities analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Danaher’s previous quarterly dividend of $0.32. Danaher’s dividend payout ratio is currently 25.40%.

Insider Activity

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president directly owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on DHR. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a report on Thursday, January 29th. Leerink Partners lifted their price objective on shares of Danaher from $260.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Jefferies Financial Group boosted their target price on shares of Danaher from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Danaher from $270.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Finally, Robert W. Baird set a $251.00 price target on Danaher in a report on Thursday, January 29th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $253.86.

Danaher 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.