33,380 Shares in Danaher Corporation $DHR Purchased by Lineweaver Wealth Advisors LLC

Key Points

• Lineweaver Wealth Advisors purchased 33,380 Danaher shares worth approximately $7.4 million, while institutional investors and hedge funds collectively own 79.05% of the company.
• Analysts remain broadly bullish on Danaher, with a consensus “Moderate Buy” rating and an average price target of $235.41; several firms recently raised their targets to as high as $255.
• Danaher reported quarterly EPS of $1.94, exceeding estimates, and revenue of $6.26 billion, up 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Lineweaver Wealth Advisors LLC purchased a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 33,380 shares of the conglomerate's stock, valued at approximately $7,395,000. Danaher accounts for approximately 0.9% of Lineweaver Wealth Advisors LLC's holdings, making the stock its 29th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Danaher in the second quarter worth approximately $10,492,520,000. Jupiter Topco LLC acquired a new stake in Danaher during the second quarter worth $1,456,317,000. Generation Investment Management LLP purchased a new stake in Danaher in the second quarter valued at $1,287,949,000. Bank of America Corp DE purchased a new stake in Danaher in the second quarter valued at $993,846,000. Finally, Legal & General Group Plc acquired a new position in shares of Danaher in the 2nd quarter valued at $801,056,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DHR shares. Barclays increased their price target on Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. The Goldman Sachs Group increased their target price on shares of Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. Guggenheim increased their target price on shares of Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. Two equities research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.41.

Danaher Stock Up 0.9%

Shares of DHR traded up $2.10 during mid-day trading on Tuesday, hitting $223.30. 6,007,508 shares of the company's stock were exchanged, compared to its average volume of 4,462,041. The company has a market cap of $156.98 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 2.74 and a beta of 0.76. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock's 50-day moving average is $212.41 and its 200-day moving average is $195.13.

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

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.