Argus Investors Counsel Inc. Purchases 5,184 Shares of Danaher Corporation $DHR

Key Points

• Argus Investors Counsel increased its Danaher position by 247.1% in the third quarter, purchasing 5,184 additional shares for a total of 7,282 shares valued at approximately $1.61 million.
• Danaher holds a “Moderate Buy” consensus rating from analysts, with an average price target of $235.23; the stock recently traded at $220.15.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while revenue grew 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, yielding about 0.7% annually.

Argus Investors Counsel Inc. raised its position in Danaher Corporation (NYSE:DHR - Free Report) by 247.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,282 shares of the conglomerate's stock after purchasing an additional 5,184 shares during the quarter. Danaher accounts for approximately 1.3% of Argus Investors Counsel Inc.'s portfolio, making the stock its 25th largest holding. Argus Investors Counsel Inc.'s holdings in Danaher were worth $1,613,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Royal Bank Of Canada increased their target price on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday. TD Cowen reduced their price target on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. UBS Group began coverage on Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Danaher in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher Price Performance

Shares of DHR stock opened at $220.15 on Friday. The firm has a market cap of $154.76 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The firm has a fifty day moving average of $211.38 and a two-hundred day moving average of $194.62.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business 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 business posted $0.77 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

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

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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