Shulman DeMeo Asset Management LLC Buys New Shares in Danaher Corporation $DHR

Key Points

• Shulman DeMeo Asset Management initiated a Danaher position by purchasing 8,665 shares worth approximately $1.92 million, representing about 0.7% of its portfolio. Institutional investors collectively own 79.05% of Danaher.
• Danaher reported quarterly EPS of $1.94, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. Shares recently traded at $220.15, with a 12-month range of $160.93 to $242.80.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.23. Danaher also declared a quarterly dividend of $0.40 per share, equivalent to a 0.7% annual yield.

Shulman DeMeo Asset Management LLC purchased a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,665 shares of the conglomerate's stock, valued at approximately $1,920,000. Danaher comprises about 0.7% of Shulman DeMeo Asset Management LLC's portfolio, making the stock its 21st biggest position.

Several other hedge funds also recently made changes to their positions in DHR. Hilton Head Capital Partners LLC bought a new position in Danaher in the fourth quarter valued at $27,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after buying an additional 53 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Danaher during the 2nd quarter worth about $25,000. Main Street Group LTD acquired a new position in shares of Danaher during the 1st quarter worth about $25,000. Finally, Field & Main Bank bought a new position in shares of Danaher in the 2nd quarter valued at about $29,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

Shares of NYSE DHR traded up $2.69 during midday trading on Friday, hitting $220.15. 3,934,329 shares of the company's stock were exchanged, compared to its average volume of 4,457,726. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $154.76 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company's 50 day moving average price is $211.38 and its 200 day moving average price is $194.62.

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

Danaher Announces Dividend

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's dividend payout ratio (DPR) is currently 28.42%.

Analyst Upgrades and Downgrades

DHR has been the topic of several analyst reports. TD Cowen dropped their target price on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. The Goldman Sachs Group boosted their price target on Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price objective for the company. Guggenheim raised their target price 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. Finally, Weiss Ratings raised shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $235.23.

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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