Successful Portfolios LLC Makes New Investment in Danaher Corporation $DHR

Key Points

• Successful Portfolios LLC initiated a Danaher position by purchasing 7,757 shares worth approximately $1.72 million in the third quarter. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $235.23. Several firms recently raised their targets to $250, while Deutsche Bank and UBS maintained “Buy” ratings.
• Danaher’s latest quarterly results exceeded expectations, with earnings of $1.94 per share and revenue of $6.26 billion, up 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, equating to a 0.7% yield.

Successful Portfolios LLC bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,757 shares of the conglomerate's stock, valued at approximately $1,719,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bill Few Associates Inc. bought a new stake in Danaher during the third quarter worth about $1,316,000. Shulman DeMeo Asset Management LLC bought a new position in Danaher in the 3rd quarter valued at about $1,920,000. Bullock Wealth Management Group increased its holdings in Danaher by 45,050.0% in the 3rd quarter. Bullock Wealth Management Group now owns 4,515 shares of the conglomerate's stock valued at $1,000,000 after buying an additional 4,505 shares during the period. Wedmont Private Capital raised its position in shares of Danaher by 939.2% in the 3rd quarter. Wedmont Private Capital now owns 30,988 shares of the conglomerate's stock valued at $6,865,000 after buying an additional 28,006 shares in the last quarter. Finally, BOS Asset Management LLC bought a new stake in shares of Danaher during the 3rd quarter worth approximately $1,207,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Ratings Changes

DHR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. UBS Group began coverage on Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 target price on the stock. 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 report on Monday, September 21st. Finally, Guggenheim upped their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher Price Performance

DHR stock traded up $2.69 during trading on Friday, reaching $220.15. 3,934,329 shares of the company were exchanged, compared to its average volume of 4,457,726. The company has a market capitalization of $154.76 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.72 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 company has a 50-day moving average of $211.38 and a two-hundred day moving average of $194.62. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. The firm had revenue of $6.26 billion for 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 company's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. As a group, equities analysts predict that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's payout ratio is 28.42%.

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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