12,692 Shares of Danaher Corporation $DHR Acquired by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management acquired 12,692 Danaher shares worth approximately $2.8 million during the third quarter. Institutional investors collectively own 79.05% of the company.
• Analyst sentiment remains positive, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $235.23. UBS and Guggenheim initiated or maintained buy ratings with $250 targets, while Wells Fargo lowered its target to $195.
• Danaher reported quarterly EPS of $1.94, exceeding estimates by $0.09, while revenue rose 5.5% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Legacy Wealth Asset Management LLC purchased a new position in Danaher Corporation (NYSE:DHR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,692 shares of the conglomerate's stock, valued at approximately $2,812,000.

Several other institutional investors and hedge funds have also bought and sold shares of DHR. BlackRock Inc. bought a new position in Danaher during the second quarter worth about $10,492,520,000. Jupiter Topco LLC bought a new position in shares of Danaher in the second quarter worth $1,456,317,000. Generation Investment Management LLP purchased a new stake in Danaher during the 2nd quarter worth about $1,287,949,000. Bank of America Corp DE purchased a new stake in shares of Danaher in the second quarter worth about $993,846,000. Finally, Legal & General Group Plc bought a new stake in Danaher during the 2nd quarter worth approximately $801,056,000. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group started coverage on Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target on the stock. Royal Bank Of Canada upped their target price on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a research report on Monday. Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price objective for the company. Guggenheim upped their price objective on shares of Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Finally, Wells Fargo & Company decreased their target price on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher Trading Down 0.5%

DHR opened at $217.33 on Friday. The firm has a market capitalization of $152.78 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.72 and a beta of 0.76. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The business has a 50 day simple moving average of $210.88 and a two-hundred day simple moving average of $194.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. Analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher's payout ratio is currently 28.42%.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.

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