Professional Advisory Services Inc. Buys Shares of 45,810 Danaher Corporation $DHR

Key Points

• Professional Advisory Services Inc. acquired 45,810 shares of Danaher Corporation during the second quarter, valued at approximately $9,049,000.
• Danaher announced a quarterly dividend of $0.32 per share, with the ex-dividend date set for September 26th, resulting in an annualized dividend yield of 0.7%.
• Analysts have varying price targets for Danaher, with an average target price of $246.35, while 17 analysts rate the stock as a strong buy.

Professional Advisory Services Inc. bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,810 shares of the conglomerate's stock, valued at approximately $9,049,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Danaher by 0.4% during the first quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock worth $12,296,123,000 after buying an additional 230,966 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Danaher by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,592,211 shares of the conglomerate's stock valued at $4,016,404,000 after purchasing an additional 612,154 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Danaher by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock valued at $1,800,614,000 after purchasing an additional 194,466 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Danaher by 44.5% in the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock valued at $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Danaher by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,230,087 shares of the conglomerate's stock valued at $867,168,000 after purchasing an additional 163,332 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 2,778 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the transaction, the director owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI reduced their price target on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a report on Friday, July 11th. Barclays reissued an "overweight" rating and issued a $225.00 price objective (up previously from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada set a $241.00 price objective on shares of Danaher in a research report on Tuesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $245.91.

Danaher Stock Performance

Shares of Danaher stock traded down $1.09 during trading hours on Tuesday, reaching $189.37. The company's stock had a trading volume of 1,621,906 shares, compared to its average volume of 4,130,367. The company's 50 day simple moving average is $200.02 and its 200 day simple moving average is $198.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. Danaher Corporation has a one year low of $171.00 and a one year high of $279.90. The stock has a market cap of $135.60 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.75.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter last year, the company earned $1.72 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. As a group, analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.7%. Danaher's dividend payout ratio (DPR) is 27.23%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.