Dickmeyer Boyce Financial Management Inc. Purchases 7,673 Shares of Danaher Corporation $DHR

Key Points

• Dickmeyer Boyce Financial Management initiated a Danaher position by purchasing 7,673 shares worth approximately $1.7 million, representing 0.8% of its portfolio. Institutional investors collectively own 79.05% of Danaher.
• Danaher’s shares fell 1.6% to $214.97, while the company’s latest quarterly results exceeded expectations with EPS of $1.94 versus the $1.85 consensus and revenue of $6.26 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $235.23. Danaher also declared a quarterly dividend of $0.40 per share, yielding approximately 0.7% annually.

Dickmeyer Boyce Financial Management Inc. purchased a new position in Danaher Corporation (NYSE:DHR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,673 shares of the conglomerate's stock, valued at approximately $1,700,000. Danaher comprises about 0.8% of Dickmeyer Boyce Financial Management Inc.'s investment portfolio, making the stock its 29th biggest holding.

Other large investors have also bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in Danaher in the 2nd quarter worth $3,807,000. Puzo Michael J purchased a new stake in shares of Danaher during the second quarter worth about $8,624,000. Madison Asset Management LLC purchased a new position in Danaher in the 2nd quarter worth approximately $85,451,000. First Nebraska Trust Co bought a new position in Danaher in the 2nd quarter worth approximately $14,106,000. Finally, Colton Groome Financial Advisors LLC purchased a new stake in Danaher during the 3rd quarter valued at approximately $592,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Down 1.6%

Shares of DHR traded down $3.52 during midday trading on Thursday, hitting $214.97. The stock had a trading volume of 3,088,188 shares, compared to its average volume of 4,451,466. 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 $151.12 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 2.68 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 50 day moving average is $210.46 and its 200 day moving average is $194.25.

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

Danaher Announces Dividend

The firm 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 dividend of $0.40 per share. 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 currently 28.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen dropped their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective on the stock. Stifel Nicolaus lowered their target price on Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. Finally, Guggenheim upped their price target on shares of Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher 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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