Danaher Corporation $DHR Stock Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC increased its Danaher stake by 239.4% in the third quarter, owning 6,707 shares valued at approximately $1.49 million. Institutional investors and hedge funds collectively hold 79.05% of Danaher’s stock.
• Analysts maintain a generally positive outlook, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $235.41.
• Danaher exceeded quarterly earnings and revenue expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while announcing a quarterly dividend of $0.40 per share, equivalent to a 0.7% yield.

SteelPeak Wealth LLC increased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 239.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,707 shares of the conglomerate's stock after purchasing an additional 4,731 shares during the quarter. SteelPeak Wealth LLC's holdings in Danaher were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Danaher in the second quarter valued at about $10,492,520,000. Jupiter Topco LLC acquired a new position in shares of Danaher in the second quarter worth approximately $1,456,317,000. Generation Investment Management LLP acquired a new position in shares of Danaher in the second quarter worth approximately $1,287,949,000. Bank of America Corp DE bought a new stake in Danaher in the second quarter valued at approximately $993,846,000. Finally, Legal & General Group Plc bought a new stake in Danaher in the second quarter valued at approximately $801,056,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DHR has been the subject of a number of recent analyst reports. Evercore reissued an "outperform" rating and set a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Wells Fargo & Company reduced their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a research report on Monday, October 5th. Stifel Nicolaus lowered their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Barclays boosted their target price on shares of Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.41.

Danaher Stock Performance

Shares of Danaher stock opened at $228.87 on Monday. The business has a 50-day simple moving average of $214.04 and a 200 day simple moving average of $196.06. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The firm has a market capitalization of $160.89 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.88 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior 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, research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's dividend payout ratio (DPR) is currently 28.42%.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.

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