Titleist Asset Management LLC Makes New Investment in Danaher Corporation $DHR

Key Points

• Titleist Asset Management initiated a Danaher position of 4,639 shares valued at approximately $1.03 million during the third quarter. Other institutional investors also increased or initiated holdings, with institutions owning 79.05% of Danaher’s stock.
• Analyst sentiment remains favorable, with Danaher receiving a “Moderate Buy” consensus rating and an average price target of $235.23; Royal Bank of Canada recently raised its target to $250.
• Danaher reported quarterly EPS of $1.94, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% annual yield.

Titleist Asset Management LLC bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,639 shares of the conglomerate's stock, valued at approximately $1,028,000.

Several other large investors have also modified their holdings of the business. Apella Capital LLC raised its holdings in shares of Danaher by 1,095.6% in the third quarter. Apella Capital LLC now owns 34,816 shares of the conglomerate's stock worth $7,713,000 after buying an additional 31,904 shares during the period. Everhart Financial Group Inc. grew its holdings in Danaher by 137.9% during the 3rd quarter. Everhart Financial Group Inc. now owns 4,351 shares of the conglomerate's stock worth $964,000 after acquiring an additional 2,522 shares in the last quarter. Gradient Investments LLC bought a new stake in shares of Danaher in the 3rd quarter valued at about $1,273,000. Avidian Wealth Enterprises LLC raised its stake in Danaher by 375.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 14,350 shares of the conglomerate's stock worth $3,179,000 after buying an additional 11,331 shares in the last quarter. Finally, Veracity Capital LLC bought a new stake in Danaher during the 3rd quarter valued at $1,044,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DHR shares. Royal Bank Of Canada raised their price target on shares of Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their target price on Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Evercore reiterated an "outperform" rating and set a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $235.23.

Danaher Stock Down 0.5%

DHR stock opened at $217.33 on Friday. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The firm has a market cap of $152.78 billion, a PE ratio of 38.60, a PEG ratio of 2.72 and a beta of 0.76. The firm's 50 day moving average price is $210.88 and its 200-day moving average price is $194.44. 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 (NYSE:DHR - Get Free Report) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Danaher's dividend payout ratio (DPR) is currently 28.42%.

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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