Coronation Fund Managers Ltd. Invests $1.90 Million in Danaher Corporation $DHR

Key Points

• Coronation Fund Managers Ltd. has invested approximately $1.90 million in Danaher Corporation by purchasing 9,596 shares during the 2nd quarter.
• Danaher recently reported earnings of $1.80 per share for the quarter, exceeding analysts' expectations of $1.64, with a revenue of $5.94 billion.
• Analysts have set a range of target prices for Danaher shares, with Royal Bank of Canada setting a target at $241.00 and other firms varying between $220.00 and $225.00.

Coronation Fund Managers Ltd. purchased a new position in Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,596 shares of the conglomerate's stock, valued at approximately $1,896,000.

Several other institutional investors have also added to or reduced their stakes in the business. GHP Investment Advisors Inc. grew its stake in Danaher by 396.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after acquiring an additional 99 shares in the last quarter. Sierra Ocean LLC lifted its position in shares of Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after purchasing an additional 76 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Danaher in the 1st quarter worth approximately $31,000. Red Tortoise LLC lifted its position in shares of Danaher by 175.0% in the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate's stock worth $30,000 after purchasing an additional 98 shares during the period. Finally, Costello Asset Management INC purchased a new stake in shares of Danaher in the 1st quarter worth approximately $41,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Teri List sold 2,778 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, the director owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% 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 hyperlink. Corporate insiders own 11.20% of the company's stock.

Analysts Set New Price Targets

DHR has been the subject of a number of analyst reports. Royal Bank Of Canada set a $241.00 target price on shares of Danaher in a research report on Tuesday, September 2nd. Rothschild & Co Redburn reissued a "neutral" rating and set a $220.00 target price (down previously from $245.00) on shares of Danaher in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Barclays reissued an "overweight" rating and set a $225.00 target price (up previously from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Finally, UBS Group decreased their target price on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.00.

Danaher Stock Down 0.5%

NYSE:DHR opened at $208.06 on Tuesday. The firm has a market capitalization of $148.98 billion, a P/E ratio of 44.27, a PEG ratio of 2.98 and a beta of 0.77. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $274.21. The company's fifty day moving average price is $201.76 and its 200-day moving average price is $197.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. As a group, equities research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, September 26th. Danaher's dividend payout ratio (DPR) is currently 27.23%.

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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