49 Wealth Management LLC Makes New $259,000 Investment in Danaher Co. (NYSE:DHR)

49 Wealth Management LLC purchased a new position in shares of Danaher Co. (NYSE:DHR) during the third quarter, HoldingsChannel reports. The institutional investor purchased 930 shares of the conglomerate’s stock, valued at approximately $259,000.

Other large investors also recently made changes to their positions in the company. Fort Pitt Capital Group LLC increased its holdings in shares of Danaher by 3.2% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock worth $66,194,000 after buying an additional 7,421 shares during the last quarter. Good Life Advisors LLC acquired a new stake in shares of Danaher during the 3rd quarter worth $217,000. Oak Thistle LLC acquired a new stake in shares of Danaher during the 2nd quarter worth $363,000. Harvest Portfolios Group Inc. increased its holdings in shares of Danaher by 1.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after buying an additional 2,465 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Danaher by 75.4% during the 2nd quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock worth $1,090,000 after buying an additional 1,874 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Up 0.3 %

NYSE:DHR opened at $235.83 on Friday. The company has a market capitalization of $170.33 billion, a price-to-earnings ratio of 45.01, a price-to-earnings-growth ratio of 4.25 and a beta of 0.85. Danaher Co. has a one year low of $215.68 and a one year high of $281.70. The stock has a 50-day simple moving average of $258.15 and a 200 day simple moving average of $259.88. 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 posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion during 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% compared to the same quarter last year. During the same period last year, the firm earned $2.02 earnings per share. Sell-side analysts predict that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were paid a $0.27 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. Danaher’s dividend payout ratio (DPR) is 20.61%.

Insider Buying and Selling

In other Danaher news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. The trade was a 18.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

DHR has been the subject of a number of research analyst reports. Barclays dropped their price objective on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company started coverage on Danaher in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price target for the company. TD Cowen increased their price target on Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Wolfe Research upgraded Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.16.

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.