141,640 Danaher Corporation $DHR Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors significantly increased its Danaher position by purchasing 141,640 shares, raising its holdings 760.6% to 160,263 shares valued at approximately $35.5 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher’s latest quarterly results exceeded expectations, with adjusted earnings of $1.94 per share versus the $1.85 consensus and revenue of $6.26 billion, up 5.5% year over year.
• Shares recently traded at $217.33, while analysts maintain a “Moderate Buy” consensus and an average price target of $235.23. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Farther Finance Advisors LLC grew its position in Danaher Corporation (NYSE:DHR - Free Report) by 760.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,263 shares of the conglomerate's stock after purchasing an additional 141,640 shares during the period. Farther Finance Advisors LLC's holdings in Danaher were worth $35,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DHR. BlackRock Inc. bought a new position in Danaher during the second quarter worth about $10,492,520,000. State Street Corp increased its holdings in shares of Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after acquiring an additional 472,608 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Danaher by 10.4% during the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock worth $3,108,031,000 after purchasing an additional 1,542,310 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Danaher during the second quarter worth about $1,456,317,000. Finally, Generation Investment Management LLP bought a new position in shares of Danaher during the 2nd quarter valued at about $1,287,949,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Down 0.5%

Danaher stock traded down $1.16 during midday trading on Thursday, reaching $217.33. The stock had a trading volume of 5,292,542 shares, compared to its average volume of 4,464,317. The firm's fifty day simple moving average is $210.46 and its 200-day simple moving average is $194.25. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The stock has a market capitalization of $152.78 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 2.68 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. As a group, analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

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

Analyst Upgrades and Downgrades

DHR has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday. Wells Fargo & Company cut their price target on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. UBS Group began coverage on shares of Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target for the company. Stifel Nicolaus lowered their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.23.

About Danaher

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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