Stonebridge Financial Group LLC Acquires 40,080 Shares of Danaher Corporation $DHR

Key Points

• Stonebridge Financial Group acquired 40,080 Danaher shares worth approximately $8.88 million, while institutional investors collectively own 79.05% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $232.50, despite mixed individual target revisions.
• Danaher shares fell 4.5% to $211.47, while the company reported quarterly earnings and revenue above estimates and declared a $0.40-per-share dividend.

Stonebridge Financial Group LLC bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,080 shares of the conglomerate's stock, valued at approximately $8,880,000.

A number of other hedge funds have also recently made changes to their positions in DHR. EP Wealth Advisors LLC bought a new position in Danaher in the 2nd quarter worth about $3,807,000. Puzo Michael J purchased a new stake in Danaher in the second quarter worth approximately $8,624,000. Madison Asset Management LLC purchased a new stake in Danaher during the second quarter valued at $85,451,000. First Nebraska Trust Co purchased a new stake in shares of Danaher during the 2nd quarter valued at about $14,106,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Danaher during the second quarter valued at approximately $11,800,000. 79.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Guggenheim lifted their price objective on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. Wells Fargo & Company lowered their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. The Goldman Sachs Group lifted their target price on Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Finally, TD Cowen cut their price target on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.50.

Danaher Stock Down 4.5%

Danaher stock traded down $10.08 during midday trading on Thursday, hitting $211.47. 5,302,533 shares of the company's stock were exchanged, compared to its average volume of 4,477,097. The company has a market cap of $148.66 billion, a PE ratio of 37.56, a P/E/G ratio of 2.82 and a beta of 0.78. The firm has a 50-day moving average of $208.38 and a two-hundred day moving average of $193.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. 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 issued its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The company 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%. Danaher's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. As a group, analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given 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 0.8%. Danaher's dividend payout ratio is presently 28.42%.

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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