7,604 Shares in Danaher Corporation $DHR Bought by Beaumont Asset Management L.L.C.

Key Points

• Beaumont Asset Management purchased 7,604 Danaher shares worth approximately $1.685 million in the third quarter. Institutional investors collectively own 79.05% of the company.
• Danaher reported quarterly earnings of $1.94 per share and revenue of $6.26 billion, exceeding analyst expectations; revenue increased 5.5% year over year.
• The company declared a quarterly dividend of $0.40 per share, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $235.41.

Beaumont Asset Management L.L.C. purchased a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 7,604 shares of the conglomerate's stock, valued at approximately $1,685,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Danaher in the 2nd quarter valued at approximately $10,492,520,000. Wellington Management Group LLP grew its position in Danaher by 10.4% during the 2nd 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 in the last quarter. Jupiter Topco LLC purchased a new position in Danaher during the 2nd quarter worth approximately $1,456,317,000. Generation Investment Management LLP purchased a new position in Danaher during the 2nd quarter worth approximately $1,287,949,000. Finally, Bank of America Corp DE acquired a new stake in Danaher during the 2nd quarter valued at $993,846,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

Shares of NYSE DHR opened at $228.87 on Friday. The firm has a market capitalization of $160.89 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.91 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 fifty day simple moving average of $214.04 and a 200 day simple moving average of $195.97. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. Sell-side analysts expect that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Announces Dividend

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

Analysts Set New Price Targets

DHR has been the subject of a number of research analyst reports. TD Cowen increased their target price on Danaher from $236.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday. Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. The Goldman Sachs Group upped their price target on Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Finally, Morgan Stanley upped their price target on Danaher from $220.00 to $240.00 and gave the company an "overweight" rating in a research report on Monday. 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.41.

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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