Castle Rock Wealth Management LLC Acquires New Holdings in Danaher Corporation $DHR

Key Points

• Castle Rock Wealth Management acquired 25,809 Danaher shares worth approximately $5.7 million, making DHR about 1.1% of its portfolio. Institutional investors and hedge funds collectively own 79.05% of the company.
• Danaher reported quarterly EPS of $1.94 and revenue of $6.26 billion, exceeding analyst expectations, while revenue increased 5.5% year over year.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60 and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $235.23.

Castle Rock Wealth Management LLC acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,809 shares of the conglomerate's stock, valued at approximately $5,718,000. Danaher accounts for about 1.1% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 17th largest position.

Other institutional investors have also made changes to their positions in the company. David J Yvars Group purchased a new position in shares of Danaher in the third quarter valued at $1,484,000. Lincoln Capital LLC increased its stake in Danaher by 7.7% during the 3rd quarter. Lincoln Capital LLC now owns 98,292 shares of the conglomerate's stock worth $21,909,000 after buying an additional 7,008 shares during the period. Successful Portfolios LLC acquired a new position in Danaher in the 3rd quarter worth $1,719,000. Bill Few Associates Inc. acquired a new position in Danaher in the 3rd quarter worth $1,316,000. Finally, Shulman DeMeo Asset Management LLC purchased a new position in Danaher in the 3rd quarter valued at about $1,920,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of NYSE DHR traded up $2.69 during trading on Friday, reaching $220.15. The stock had a trading volume of 3,934,329 shares, compared to its average volume of 4,457,726. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The firm's 50 day moving average price is $210.88 and its two-hundred day moving average price is $194.44. The stock has a market cap of $154.76 billion, a PE ratio of 39.10, a P/E/G ratio of 2.72 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The company 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 company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. On average, research analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

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

Wall Street Analyst Weigh In

DHR has been the topic of a number of analyst reports. Piper Sandler started coverage on Danaher in a research report on Thursday, June 11th. They set a "neutral" rating and a $200.00 target price on the stock. Wells Fargo & Company reduced their price target on Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Barclays raised their price objective on Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.23.

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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