Bank of Nova Scotia Sells 248,580 Shares of Danaher Corporation $DHR

Key Points

• Bank of Nova Scotia sold 248,580 shares of Danaher, cutting its position by 54% to 211,365 shares worth about $41.9 million after the quarter.
• Danaher raised its quarterly dividend to $0.40 (annualized $1.60), with an ex-dividend date of March 27 and a yield of roughly 0.9% (payout ratio 25.4%).
• Wall Street remains mostly bullish: 19 analysts rate the stock a Buy vs. 3 Hold, with an average price target of $253.55 compared with a recent share price near $187 and a market cap of about $132.5 billion.

Bank of Nova Scotia decreased its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 54.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,365 shares of the conglomerate's stock after selling 248,580 shares during the quarter. Bank of Nova Scotia's holdings in Danaher were worth $41,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DHR. WFA of San Diego LLC bought a new stake in Danaher during the 2nd quarter valued at $26,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Danaher in the third quarter valued at $27,000. Howard Hughes Medical Institute acquired a new position in shares of Danaher during the second quarter valued at about $27,000. TruNorth Capital Management LLC acquired a new position in shares of Danaher during the third quarter valued at about $28,000. Finally, Tripletail Wealth Management LLC bought a new stake in shares of Danaher during the third quarter worth about $31,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of DHR opened at $187.34 on Monday. The stock has a 50 day moving average of $218.79 and a 200 day moving average of $215.48. The company has a market capitalization of $132.47 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.54 and a beta of 0.93. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $242.80. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.09. The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, sell-side analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, March 27th. This is a positive change from Danaher's previous quarterly dividend of $0.32. Danaher's dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird set a $251.00 price objective on Danaher in a report on Thursday, January 29th. KeyCorp reaffirmed an "overweight" rating on shares of Danaher in a research report on Thursday, January 29th. TD Cowen reiterated a "buy" rating on shares of Danaher in a report on Wednesday, January 7th. Wells Fargo & Company increased their price target on Danaher from $230.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, December 15th. Finally, Leerink Partners raised their price objective on Danaher from $260.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, January 16th. Nineteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $253.55.

Insiders Place Their Bets

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the transaction, the executive vice president owned 5,099 shares in the company, valued at approximately $1,060,642.99. This represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.20% of the company's stock.

Danaher Profile

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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