28,006 Danaher Corporation $DHR Shares Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its Danaher stake by 939.2% in the third quarter, acquiring 28,006 shares for a total holding of 30,988 shares valued at approximately $6.87 million.
• Danaher reported quarterly earnings of $1.94 per share, beating estimates by $0.09, while revenue rose 5.5% year over year to $6.26 billion.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $235.23, compared with a recent price of $220.28.

Wedmont Private Capital lifted its stake in Danaher Corporation (NYSE:DHR - Free Report) by 939.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,988 shares of the conglomerate's stock after purchasing an additional 28,006 shares during the period. Wedmont Private Capital's holdings in Danaher were worth $6,865,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DHR. Main Street Group LTD purchased a new stake in Danaher in the first quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new position in Danaher during the 2nd quarter valued at about $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Danaher in the 4th quarter valued at about $27,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock worth $29,000 after purchasing an additional 53 shares during the period. Finally, Evolution Wealth Management Inc. lifted its position in shares of Danaher by 208.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after purchasing an additional 104 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

Shares of NYSE:DHR traded up $2.82 during trading on Friday, hitting $220.28. The stock had a trading volume of 1,215,501 shares, compared to its average volume of 4,447,280. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The stock has a market capitalization of $154.85 billion, a price-to-earnings ratio of 39.08, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The stock has a 50-day simple moving average of $210.88 and a two-hundred day simple moving average of $194.44.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Danaher Corporation will post 8.53 earnings per share 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 given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher's payout ratio is currently 28.42%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore reissued an "outperform" rating and set a $230.00 price objective on shares of Danaher in a report on Monday, July 6th. UBS Group began coverage on Danaher in a research report on Wednesday, September 9th. They set a "buy" rating and a $250.00 target price on the stock. Royal Bank Of Canada lifted their price target on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. Finally, Barclays increased their price objective on shares of Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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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