Danaher Corporation $DHR Shares Purchased by Azzad Asset Management Inc. ADV

Key Points

• Azzad Asset Management increased its Danaher stake by 59.2% in the first quarter, buying 9,494 more shares and bringing its total to 25,539 shares valued at about $4.84 million.
• Institutional interest in Danaher remains high, with 79.05% of shares owned by hedge funds and other institutions. Several other investors also modestly increased their positions during the period.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $233.52. Danaher also recently reported earnings of $2.06 per share, topping estimates, and declared a quarterly dividend of $0.40 per share.

Azzad Asset Management Inc. ADV raised its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 59.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,539 shares of the conglomerate's stock after purchasing an additional 9,494 shares during the period. Azzad Asset Management Inc. ADV's holdings in Danaher were worth $4,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DHR. Enterprise Financial Services Corp boosted its stake in Danaher by 1.4% in the fourth quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock valued at $737,000 after acquiring an additional 46 shares during the period. Kennebec Savings Bank raised its position in shares of Danaher by 1.4% during the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock worth $766,000 after purchasing an additional 46 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Danaher by 2.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock worth $428,000 after purchasing an additional 47 shares during the last quarter. High Note Wealth LLC boosted its position in Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after purchasing an additional 47 shares during the period. Finally, First Command Advisory Services Inc. boosted its position in Danaher by 4.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after purchasing an additional 47 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on DHR. Citigroup started coverage on Danaher in a research report on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price on the stock. Wolfe Research lowered shares of Danaher from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 1st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $245.00 price objective on shares of Danaher in a report on Tuesday, April 21st. HSBC reduced their target price on shares of Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. Finally, Evercore restated an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and a consensus price target of $233.52.

Danaher Price Performance

Shares of NYSE DHR opened at $195.75 on Friday. The stock has a market cap of $138.54 billion, a P/E ratio of 37.86, a P/E/G ratio of 2.43 and a beta of 0.79. The firm's 50-day simple moving average is $180.18 and its 200 day simple moving average is $199.48. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. Danaher's revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that Danaher Corporation will post 8.44 EPS for the current year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher's payout ratio is presently 30.95%.

About Danaher

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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