Providence Wealth Advisors LLC Makes New $8.21 Million Investment in Danaher Corporation $DHR

Key Points

• Providence Wealth Advisors opened a new position in Danaher, buying 35,874 shares worth about $8.21 million. The stake makes Danaher the firm’s fourth-largest holding, accounting for about 5% of its portfolio.
• Other institutional investors have also been increasing their exposure to Danaher, and overall institutional ownership stands at 79.05%. That suggests strong ongoing interest from large investors despite recent market moves.
• Wall Street remains generally constructive on the stock: Danaher has a “Moderate Buy” consensus rating with a price target of $238.65, even as some analysts trimmed targets and one firm downgraded the shares to hold.

Providence Wealth Advisors LLC bought a new position in Danaher Corporation (NYSE:DHR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 35,874 shares of the conglomerate's stock, valued at approximately $8,212,000. Danaher makes up about 5.0% of Providence Wealth Advisors LLC's investment portfolio, making the stock its 4th largest holding.

Several other large investors have also recently modified their holdings of DHR. Sivia Capital Partners LLC raised its stake in shares of Danaher by 6.3% during the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock valued at $397,000 after acquiring an additional 119 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Danaher by 34.5% during the second quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock valued at $10,947,000 after acquiring an additional 14,217 shares during the last quarter. Main Street Financial Solutions LLC raised its stake in shares of Danaher by 40.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock valued at $610,000 after acquiring an additional 886 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Danaher by 64.2% during the second quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock valued at $14,957,000 after acquiring an additional 29,592 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Danaher by 30.7% during the second quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock valued at $273,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DHR. Wall Street Zen cut shares of Danaher from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Danaher from $275.00 to $245.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Guggenheim decreased their price objective on shares of Danaher from $275.00 to $235.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. TD Cowen decreased their price objective on shares of Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $245.00 price objective on shares of Danaher in a research report on Tuesday, April 21st. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.65.

Insider Buying and Selling

In other news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the transaction, the executive vice president directly owned 5,099 shares in the company, valued at $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.80% of the company's stock.

Danaher Trading Up 1.9%

NYSE:DHR opened at $166.97 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $118.18 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.19 and a beta of 0.81. The firm has a fifty day simple moving average of $184.97 and a two-hundred day simple moving average of $209.60. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. Analysts expect that Danaher Corporation will post 8.43 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, June 26th. Danaher's dividend payout ratio (DPR) is presently 30.95%.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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