Danaher Corporation $DHR Shares Purchased by Park National Corp OH

Key Points

• Park National Corp OH increased its Danaher stake by 6.7% in the third quarter, purchasing 5,678 additional shares to hold 90,107 shares valued at approximately $18.2 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher shares recently traded at $218.98, up $4.92, with the stock positioned between its $160.93 52-week low and $242.80 high. The company reported quarterly revenue of $6.26 billion and adjusted earnings of $1.94 per share, exceeding analyst expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $234.09. Danaher also declared a quarterly dividend of $0.40 per share, equivalent to a 0.7% annualized yield.

Park National Corp OH increased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,107 shares of the conglomerate's stock after buying an additional 5,678 shares during the quarter. Park National Corp OH's holdings in Danaher were worth $18,187,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DHR. Main Street Group LTD purchased a new position in shares of Danaher during the first quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Danaher during the 2nd quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Danaher in the 4th quarter valued at about $27,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock worth $29,000 after buying an additional 53 shares during the last quarter. Finally, Evolution Wealth Management Inc. grew its holdings in Danaher by 208.0% during the first quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after acquiring an additional 104 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Price Performance

DHR traded up $4.92 during midday trading on Monday, hitting $218.98. 761,506 shares of the company traded hands, compared to its average volume of 4,454,343. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $153.94 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.67 and a beta of 0.76. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The business has a 50 day simple moving average of $209.20 and a two-hundred day simple moving average of $193.70.

Danaher (NYSE:DHR - Get Free Report) last released its 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 net margin of 15.95% and a return on equity of 11.04%. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. TD Cowen dropped their price target on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. The Goldman Sachs Group increased their target price on shares of Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. Piper Sandler initiated 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. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.09.

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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