Townsend Asset Management Corp NC ADV Grows Stake in Danaher Corporation $DHR

Key Points

• Townsend Asset Management Corp NC ADV increased its stake in Danaher Corporation by 20.5% during the 2nd quarter, now holding 27,619 shares valued at approximately $5.46 million.
• Danaher reported earnings of $1.80 per share for the quarter, surpassing analyst expectations of $1.64, with revenues of $5.94 billion, up 3.4% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, to be paid on October 31st, representing an annualized dividend yield of 0.7%.

Townsend Asset Management Corp NC ADV lifted its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 20.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,619 shares of the conglomerate's stock after acquiring an additional 4,703 shares during the period. Danaher accounts for approximately 2.0% of Townsend Asset Management Corp NC ADV's investment portfolio, making the stock its 13th biggest holding. Townsend Asset Management Corp NC ADV's holdings in Danaher were worth $5,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Danaher by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock worth $12,296,123,000 after acquiring an additional 230,966 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Danaher by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,592,211 shares of the conglomerate's stock valued at $4,016,404,000 after acquiring an additional 612,154 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Danaher by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock worth $1,800,614,000 after purchasing an additional 194,466 shares during the last quarter. Invesco Ltd. increased its position in shares of Danaher by 44.5% during the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock worth $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Danaher by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,230,087 shares of the conglomerate's stock valued at $867,168,000 after purchasing an additional 163,332 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of DHR opened at $181.56 on Friday. The company has a 50-day moving average of $199.54 and a two-hundred day moving average of $197.72. The stock has a market cap of $130.01 billion, a P/E ratio of 38.63, a PEG ratio of 2.65 and a beta of 0.75. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.90. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same period last year, the company posted $1.72 EPS. The company's revenue was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. As a group, research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, September 26th. Danaher's dividend payout ratio is currently 27.23%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DHR shares. Bank of America cut their price target on Danaher from $230.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday. Royal Bank Of Canada set a $241.00 target price on shares of Danaher in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. UBS Group decreased their price target on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Danaher presently has an average rating of "Moderate Buy" and an average target price of $245.91.

Insider Activity at Danaher

In related news, Director Teri List sold 2,778 shares of Danaher stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the sale, the director owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by insiders.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.

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