Danaher Corporation $DHR Shares Sold by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors cut its Danaher stake by 44.3% in the third quarter, selling 4,837 shares and retaining 6,078 shares valued at approximately $1.35 million.
• Institutional ownership remains substantial at 79.05%, while several other investors—including Madison Asset Management—initiated new positions in Danaher.
• Danaher reported better-than-expected quarterly results, with $1.94 in EPS and $6.26 billion in revenue, and analysts maintain a “Moderate Buy” consensus with an average price target of $235.41. The company also declared a quarterly dividend of $0.40 per share.

Forvis Mazars Wealth Advisors LLC lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 44.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,078 shares of the conglomerate's stock after selling 4,837 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Danaher were worth $1,347,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. EP Wealth Advisors LLC purchased a new position in shares of Danaher in the 2nd quarter valued at $3,807,000. Puzo Michael J purchased a new stake in shares of Danaher during the 2nd quarter worth $8,624,000. Madison Asset Management LLC purchased a new stake in shares of Danaher during the 2nd quarter worth $85,451,000. First Nebraska Trust Co bought a new stake in Danaher during the second quarter valued at about $14,106,000. Finally, Colton Groome Financial Advisors LLC purchased a new position in Danaher in the third quarter valued at about $592,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Shares of Danaher stock opened at $223.30 on Wednesday. The company has a 50 day moving average price of $212.41 and a 200 day moving average price of $195.13. The firm has a market capitalization of $156.98 billion, a P/E ratio of 39.66, a PEG ratio of 2.78 and a beta of 0.76. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

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

Danaher Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on DHR shares. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada raised their target price on shares of Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday, October 5th. UBS Group assumed coverage on shares of Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target on the stock. TD Cowen upped their price target on Danaher from $236.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Guggenheim increased their price objective on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $235.41.

Danaher Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.