Danaher Corporation $DHR Shares Purchased by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. increased its Danaher stake by 372.7% in the third quarter, bringing its holdings to 45,514 shares valued at approximately $10.1 million. Institutional investors collectively own 79.05% of Danaher.
• Analysts maintain a positive outlook, with Danaher receiving an average “Moderate Buy” rating and a consensus price target of $235.23, above its reported trading price of $218.85.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share and $6.26 billion in revenue, while announcing a quarterly dividend of $0.40 per share, yielding 0.7% annually.

Canandaigua National Bank & Trust Co. grew its position in Danaher Corporation (NYSE:DHR - Free Report) by 372.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,514 shares of the conglomerate's stock after acquiring an additional 35,886 shares during the quarter. Danaher accounts for about 0.9% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 24th largest position. Canandaigua National Bank & Trust Co.'s holdings in Danaher were worth $10,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DHR. EP Wealth Advisors LLC bought a new stake in Danaher in the 2nd quarter valued at $3,807,000. Puzo Michael J bought a new position in shares of Danaher during the 2nd quarter worth about $8,624,000. Madison Asset Management LLC acquired a new stake in shares of Danaher during the 2nd quarter valued at about $85,451,000. First Nebraska Trust Co acquired a new stake in shares of Danaher during the 2nd quarter valued at about $14,106,000. Finally, Handelsbanken Fonder AB increased its stake in Danaher by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock valued at $55,091,000 after acquiring an additional 28,425 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus decreased their price objective on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. TD Cowen cut their target price on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 price target on shares of Danaher in a research note on Wednesday, July 22nd. Barclays upped their price target on Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, UBS Group started coverage on Danaher in a report on Wednesday, September 9th. They set a "buy" rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and an average target price of $235.23.

Danaher Price Performance

Shares of NYSE:DHR traded up $3.24 during trading on Wednesday, reaching $218.85. The stock had a trading volume of 3,974,091 shares, compared to its average volume of 4,460,003. The stock has a market capitalization of $153.85 billion, a PE ratio of 38.87, a P/E/G ratio of 2.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The business's 50-day moving average price is $210.01 and its 200 day moving average price is $194.05.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the company earned $0.77 EPS. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's dividend payout ratio is presently 28.42%.

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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