4,756 Shares in Danaher Corporation $DHR Purchased by StoneRidge PMG Advisors LLC

Key Points

• StoneRidge PMG Advisors bought 4,756 Danaher shares in the third quarter, valued at about $1.05 million; the position represents roughly 0.7% of the firm’s portfolio.
• Danaher reported quarterly EPS of $2.11, beating estimates of $1.92, while revenue rose 8.3% year over year to $6.55 billion—slightly below analysts’ expectations.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $242.91. Danaher also pays a quarterly dividend of $0.40 per share, equivalent to a 0.7% annual yield.

StoneRidge PMG Advisors LLC bought a new stake 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 institutional investor bought 4,756 shares of the conglomerate's stock, valued at approximately $1,054,000. Danaher makes up approximately 0.7% of StoneRidge PMG Advisors LLC's holdings, making the stock its 29th biggest position.

Other large investors have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC raised its holdings in shares of Danaher by 0.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 9,203 shares of the conglomerate's stock worth $2,039,000 after acquiring an additional 45 shares during the last quarter. Essential Investment Partners LLC lifted its position in shares of Danaher by 34.6% in the third quarter. Essential Investment Partners LLC now owns 175 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 45 shares in the last quarter. Covestor Ltd lifted its position in shares of Danaher by 28.3% in the third quarter. Covestor Ltd now owns 213 shares of the conglomerate's stock valued at $47,000 after acquiring an additional 47 shares in the last quarter. Veery Capital LLC lifted its position in shares of Danaher by 3.1% in the third quarter. Veery Capital LLC now owns 1,581 shares of the conglomerate's stock valued at $350,000 after acquiring an additional 48 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. boosted its stake in shares of Danaher by 7.5% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 715 shares of the conglomerate's stock valued at $158,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Insider Buying and Selling

In related news, CAO Christopher Bouda sold 7,598 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the transaction, the chief accounting officer directly owned 9,107 shares in the company, valued at approximately $2,136,137.92. This represents a 45.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.80% of the company's stock.

Danaher Trading Up 0.0%

Shares of DHR opened at $230.34 on Monday. The stock has a fifty day moving average of $220.27 and a two-hundred day moving average of $201.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.29 and a current ratio of 1.63. The company has a market capitalization of $162.05 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.89 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.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.19. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher's dividend payout ratio is presently 26.19%.

Analysts Set New Price Targets

A number of research firms recently commented on DHR. Morgan Stanley lifted their price objective on Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Robert W. Baird boosted their target price on shares of Danaher from $246.00 to $254.00 and gave the company an "outperform" rating in a research note on Thursday, October 22nd. The Goldman Sachs Group restated a "buy" rating and issued a $275.00 target price on shares of Danaher in a report on Thursday, October 22nd. Royal Bank Of Canada raised their price target on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, October 5th. Finally, DZ Bank cut shares of Danaher from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 27th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $242.91.

About Danaher

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing.

The company's businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.

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