M&T Bank Corp Trims Stake in Danaher Co. (NYSE:DHR)

M&T Bank Corp lessened its holdings in Danaher Co. (NYSE:DHR) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 503,497 shares of the conglomerate’s stock after selling 946 shares during the period. M&T Bank Corp owned approximately 0.07% of Danaher worth $139,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. nVerses Capital LLC purchased a new position in Danaher during the second quarter worth about $25,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Danaher in the 3rd quarter worth approximately $39,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Danaher during the 3rd quarter worth approximately $40,000. FSA Wealth Management LLC acquired a new stake in Danaher in the 3rd quarter valued at approximately $50,000. Finally, Financial Connections Group Inc. purchased a new stake in Danaher in the second quarter valued at approximately $51,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Price Performance

Shares of NYSE DHR opened at $228.55 on Friday. The stock’s 50-day simple moving average is $243.07 and its 200-day simple moving average is $256.49. The firm has a market capitalization of $165.08 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 4.33 and a beta of 0.83. Danaher Co. has a fifty-two week low of $222.53 and a fifty-two week high of $281.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37.

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

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be paid a $0.27 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.08 annualized dividend and a yield of 0.47%. Danaher’s dividend payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DHR shares. Guggenheim initiated coverage on Danaher in a research note on Thursday. They issued a “buy” rating and a $275.00 price objective for the company. TD Cowen lifted their target price on Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their price target on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. KeyCorp lifted their price objective on shares of Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America upgraded shares of Danaher from a “neutral” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $288.21.

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.