Canvas Wealth Advisors LLC Takes $334,000 Position in Danaher Corporation (NYSE:DHR)

Canvas Wealth Advisors LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,737 shares of the conglomerate's stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DHR. Fortis Capital Advisors LLC lifted its stake in shares of Danaher by 1.3% during the 4th quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate's stock worth $914,000 after acquiring an additional 50 shares during the last quarter. Fayez Sarofim & Co increased its stake in Danaher by 0.6% in the fourth quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate's stock worth $1,902,000 after purchasing an additional 50 shares during the period. Coastal Bridge Advisors LLC lifted its position in shares of Danaher by 4.8% during the fourth quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock worth $252,000 after purchasing an additional 50 shares during the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of Danaher by 2.2% during the fourth quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock valued at $538,000 after purchasing an additional 51 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Danaher by 3.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,739 shares of the conglomerate's stock worth $399,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

NYSE:DHR opened at $201.88 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70. The firm has a market cap of $144.48 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 2.82 and a beta of 0.77. The company has a 50-day moving average of $194.61 and a 200-day moving average of $208.77.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Danaher had a net margin of 15.81% and a return on equity of 10.80%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. Analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.63%. Danaher's dividend payout ratio is 24.85%.

Insider Activity at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman now directly owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Paul Riley sold 15,805 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president now owns 15,179 shares in the company, valued at $3,005,442. This represents a 51.01% decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DHR shares. Barclays restated an "overweight" rating and set a $225.00 price target (up previously from $215.00) on shares of Danaher in a research note on Tuesday. Wells Fargo & Company dropped their price objective on Danaher from $240.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. UBS Group lowered their price target on shares of Danaher from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Leerink Partners upped their price target on Danaher from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $248.61.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.

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