Danaher Corporation $DHR Stock Purchased by Courier Capital LLC

Key Points

• Courier Capital LLC increased its Danaher stake by 1,083.9% in the third quarter, acquiring 35,867 additional shares for a total of 39,176 shares valued at approximately $8.68 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher shares recently traded at $223.30, up 0.9%, while the company reported quarterly earnings of $1.94 per share and revenue of $6.26 billion, exceeding analyst estimates and representing 5.5% year-over-year revenue growth.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $235.41. Danaher also declared a quarterly dividend of $0.40 per share, equivalent to a 0.7% annual yield.

Courier Capital LLC lifted its stake in Danaher Corporation (NYSE:DHR - Free Report) by 1,083.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,176 shares of the conglomerate's stock after buying an additional 35,867 shares during the period. Danaher makes up approximately 1.6% of Courier Capital LLC's holdings, making the stock its 14th largest holding. Courier Capital LLC's holdings in Danaher were worth $8,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DHR. Veery Capital LLC increased its stake in Danaher by 3.1% in the 3rd quarter. Veery Capital LLC now owns 1,581 shares of the conglomerate's stock worth $350,000 after purchasing an additional 48 shares during the period. Studio Investment Management LLC lifted its position in Danaher by 3.3% in the second quarter. Studio Investment Management LLC now owns 1,581 shares of the conglomerate's stock valued at $302,000 after purchasing an additional 51 shares during the last quarter. JDH Wealth Management LLC boosted its stake in shares of Danaher by 4.5% during the first quarter. JDH Wealth Management LLC now owns 1,264 shares of the conglomerate's stock valued at $240,000 after purchasing an additional 55 shares during the period. OLD Second National Bank of Aurora boosted its stake in shares of Danaher by 0.5% during the first quarter. OLD Second National Bank of Aurora now owns 12,114 shares of the conglomerate's stock valued at $2,297,000 after purchasing an additional 57 shares during the period. Finally, Adelphi Trust Co boosted its stake in shares of Danaher by 2.5% during the third quarter. Adelphi Trust Co now owns 2,365 shares of the conglomerate's stock valued at $524,000 after purchasing an additional 57 shares during the period. Institutional investors own 79.05% of the company's stock.

Danaher Stock Up 0.9%

Danaher stock traded up $2.10 on Tuesday, hitting $223.30. 6,007,508 shares of the stock traded hands, compared to its average volume of 4,462,041. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The firm has a market cap of $156.98 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 2.74 and a beta of 0.76. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The business's fifty day simple moving average is $211.85 and its 200 day simple moving average is $194.88.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results 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 business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, sell-side analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued 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 (DPR) is presently 28.42%.

Analysts Set New Price Targets

Several brokerages recently commented on DHR. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays increased their price target on shares of Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. TD Cowen raised their price target on shares of Danaher from $236.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Finally, Royal Bank Of Canada upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.41.

About Danaher

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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