Danaher Corporation $DHR Stock: IFP Advisors Inc Increases Stake

Key Points

• IFP Advisors increased its Danaher stake by 1,000.9% in the third quarter, acquiring 35,541 additional shares for a total holding of 39,092 shares valued at approximately $8.66 million. Institutional investors collectively own 79.05% of DHR.
• Danaher reported quarterly earnings of $1.94 per share, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. Analysts project $8.53 in full-year EPS.
• The company declared a quarterly dividend of $0.40 per share, or $1.60 annually, representing a 0.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $235.41.

IFP Advisors Inc lifted its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1,000.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,092 shares of the conglomerate's stock after acquiring an additional 35,541 shares during the quarter. IFP Advisors Inc's holdings in Danaher were worth $8,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Finer Wealth Management Inc. bought a new stake in Danaher during the 3rd quarter valued at approximately $616,000. Robertson Stephens Wealth Management LLC grew its holdings in shares of Danaher by 44.9% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 20,199 shares of the conglomerate's stock worth $4,475,000 after acquiring an additional 6,259 shares during the period. Frank Rimerman Advisors LLC grew its holdings in shares of Danaher by 181.9% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 40,855 shares of the conglomerate's stock worth $9,051,000 after acquiring an additional 26,363 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Danaher in the 3rd quarter worth approximately $661,000. Finally, Birch Hill Investment Advisors LLC raised its position in shares of Danaher by 9.6% in the 3rd quarter. Birch Hill Investment Advisors LLC now owns 40,549 shares of the conglomerate's stock worth $8,984,000 after acquiring an additional 3,553 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Shares of DHR opened at $228.87 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The business's 50 day moving average price is $214.04 and its 200-day moving average price is $196.06. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock has a market cap of $160.89 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.88 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. Equities research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid 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 of this dividend is Wednesday, September 30th. Danaher's dividend payout ratio is currently 28.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DHR shares. Morgan Stanley raised their target price on Danaher from $220.00 to $240.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. Evercore reissued an "outperform" rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Finally, UBS Group started coverage on Danaher in a research report on Wednesday, September 9th. They set a "buy" rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.41.

About Danaher

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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