Danaher Corporation $DHR Stock: Provenance Wealth Advisors LLC Grows Stake

Provenance Wealth Advisors LLC increased its holdings in shares of Danaher Corporation (NYSE:DHR) by 2,047.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,513 shares of the conglomerate’s stock after purchasing an additional 2,396 shares during the period. Provenance Wealth Advisors LLC’s holdings in Danaher were worth $557,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Danaher during the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP increased its holdings in shares of Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock valued at $3,108,031,000 after acquiring an additional 1,542,310 shares during the period. Jupiter Topco LLC bought a new position in shares of Danaher in the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP bought a new position in shares of Danaher in the 2nd quarter worth $1,287,949,000. Finally, Bank of America Corp DE purchased a new stake in shares of Danaher during the 2nd quarter worth $993,846,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DHR. Wells Fargo & Company dropped their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. DZ Bank lowered Danaher from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Morgan Stanley boosted their target price on shares of Danaher from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Barclays increased their price target on shares of Danaher from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Finally, UBS Group restated a “buy” rating and issued a $260.00 price target on shares of Danaher in a report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.91.

Danaher Stock Performance

Shares of DHR stock opened at $226.43 on Friday. The business’s fifty day simple moving average is $219.98 and its 200-day simple moving average is $201.62. The company has a market cap of $159.30 billion, a PE ratio of 28.17, a PEG ratio of 2.95 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 EPS for the quarter, beating the consensus estimate of $1.92 by $0.19. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. Analysts expect that Danaher Corporation will post 8.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher’s dividend payout ratio (DPR) is 26.19%.

Insiders Place Their Bets

In other Danaher news, CAO Christopher Bouda sold 7,598 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total value of $1,782,186.88. Following the completion of the sale, the chief accounting officer owned 9,107 shares of the company’s stock, valued at approximately $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.80% of the company’s stock.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.