Danaher Corporation $DHR Stock Position Increased by CoreCap Advisors LLC

Key Points

• CoreCap Advisors significantly increased its Danaher stake by 1,807.3% in the third quarter, ending with 13,790 shares valued at approximately $3.06 million. Institutional investors collectively own 79.05% of Danaher.
• Analysts maintain a generally positive outlook, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $235.23, above its reported opening price of $217.33.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share and $6.26 billion in revenue, while revenue grew 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% annualized yield.

CoreCap Advisors LLC raised its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1,807.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,790 shares of the conglomerate's stock after buying an additional 13,067 shares during the quarter. CoreCap Advisors LLC's holdings in Danaher were worth $3,055,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DHR. Dickmeyer Boyce Financial Management Inc. bought a new position in shares of Danaher in the third quarter worth approximately $1,700,000. YHB Investment Advisors Inc. increased its position in shares of Danaher by 1.1% during the third quarter. YHB Investment Advisors Inc. now owns 92,497 shares of the conglomerate's stock valued at $20,023,000 after acquiring an additional 993 shares in the last quarter. Titleist Asset Management LLC bought a new stake in shares of Danaher during the third quarter valued at approximately $1,028,000. Apella Capital LLC increased its holdings in shares of Danaher by 1,095.6% in the 3rd quarter. Apella Capital LLC now owns 34,816 shares of the conglomerate's stock worth $7,713,000 after purchasing an additional 31,904 shares in the last quarter. Finally, Everhart Financial Group Inc. increased its holdings in shares of Danaher by 137.9% in the 3rd quarter. Everhart Financial Group Inc. now owns 4,351 shares of the conglomerate's stock worth $964,000 after purchasing an additional 2,522 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Piper Sandler began coverage on shares of Danaher in a research note on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price target for the company. Guggenheim lifted their target price on shares of Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. TD Cowen decreased their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Two equities 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher Stock Performance

NYSE:DHR opened at $217.33 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock has a 50-day simple moving average of $210.88 and a two-hundred day simple moving average of $194.44. The firm has a market capitalization of $152.78 billion, a PE ratio of 38.60, a P/E/G ratio of 2.72 and a beta of 0.76. 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 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. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. Analysts forecast that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Dividend Announcement

The company also recently disclosed 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. 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 28.42%.

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.

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