Danaher Corporation $DHR Stock Purchased by Avidian Wealth Enterprises LLC

Key Points

• Avidian Wealth Enterprises increased its Danaher position by 375.3% in the third quarter, acquiring 11,331 additional shares for a total holding valued at approximately $3.18 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. Recent targets range from $220 to $255.
• Danaher reported quarterly EPS of $1.94, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Avidian Wealth Enterprises LLC grew its position in Danaher Corporation (NYSE:DHR - Free Report) by 375.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,350 shares of the conglomerate's stock after buying an additional 11,331 shares during the period. Avidian Wealth Enterprises LLC's holdings in Danaher were worth $3,179,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DHR. Veracity Capital LLC bought a new position in Danaher in the third quarter worth approximately $1,044,000. Vista Investment Partners LLC purchased a new position in Danaher during the third quarter valued at approximately $573,000. New Covenant Trust Company N.A. bought a new position in shares of Danaher in the third quarter worth approximately $1,196,000. Quintet Private Bank Europe S.A. increased its stake in shares of Danaher by 102.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,875 shares of the conglomerate's stock worth $415,000 after purchasing an additional 950 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Danaher by 21.8% during the 3rd quarter. Toth Financial Advisory Corp now owns 6,631 shares of the conglomerate's stock valued at $1,469,000 after purchasing an additional 1,189 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Royal Bank Of Canada upped their price target on shares of Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a report on Monday. Weiss Ratings raised shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. 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 objective for the company. Finally, Barclays boosted their price objective on Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Danaher has an average rating of "Moderate Buy" and a consensus price target of $235.23.

Danaher Stock Down 0.5%

Shares of DHR stock opened at $217.33 on Friday. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a market cap of $152.78 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. 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 stock's fifty day moving average price is $210.88 and its 200 day moving average price is $194.44.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

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