9,461 Shares in Danaher Corporation $DHR Bought by Eagle Strategies LLC

Key Points

• Eagle Strategies LLC initiated a Danaher position by purchasing 9,461 shares valued at approximately $2.1 million. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Analysts remain broadly positive, with Danaher receiving a “Moderate Buy” consensus rating and an average price target of $235.41; several brokerages recently raised their targets to $250–$255.
• Danaher beat quarterly expectations with $1.94 in earnings per share and $6.26 billion in revenue, while declaring a quarterly dividend of $0.40 per share, equivalent to a 0.7% yield.

Eagle Strategies LLC bought a new position in Danaher Corporation (NYSE:DHR - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,461 shares of the conglomerate's stock, valued at approximately $2,096,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Danaher during the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP increased its holdings in shares of Danaher by 10.4% in 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 purchased a new stake in shares of Danaher in the second quarter worth $1,456,317,000. Generation Investment Management LLP purchased a new stake in shares of Danaher in the second quarter worth $1,287,949,000. Finally, Bank of America Corp DE purchased a new stake in shares of Danaher in the second quarter worth $993,846,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DHR. TD Cowen upped their target price on Danaher from $236.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday. 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 research report on Monday, October 5th. Guggenheim boosted their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Wells Fargo & Company cut their price objective on Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Finally, Barclays upped their price objective on shares of Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Danaher has an average rating of "Moderate Buy" and a consensus price target of $235.41.

Danaher Price Performance

Shares of Danaher stock opened at $228.87 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $160.89 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.91 and a beta of 0.76. The business's 50-day moving average price is $214.04 and its 200-day moving average price is $195.97. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last released its 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 company 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%. Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Sell-side analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's payout ratio is presently 28.42%.

Danaher 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.

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