Vann Equity Management LLC Purchases New Position in Danaher Corporation $DHR

Key Points

• Vann Equity Management acquired 8,626 Danaher shares worth approximately $1.91 million in the third quarter, making DHR about 1.2% of its portfolio. Institutional investors collectively own 79.05% of the company.
• Analysts maintain a generally favorable view, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $235.23; recent targets range as high as $250.
• Danaher exceeded quarterly earnings and revenue expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while announcing a quarterly dividend of $0.40 per share, equivalent to a 0.7% yield.

Vann Equity Management LLC acquired a new position in Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,626 shares of the conglomerate's stock, valued at approximately $1,911,000. Danaher comprises approximately 1.2% of Vann Equity Management LLC's holdings, making the stock its 16th biggest position.

Several other large investors have also modified their holdings of the company. EP Wealth Advisors LLC bought a new stake in shares of Danaher in the second quarter valued at about $3,807,000. Puzo Michael J bought a new position in Danaher during the second quarter valued at about $8,624,000. First Nebraska Trust Co acquired a new position in Danaher in the 2nd quarter valued at approximately $14,106,000. Madison Asset Management LLC bought a new stake in shares of Danaher in the 2nd quarter worth approximately $85,451,000. Finally, Colton Groome Financial Advisors LLC acquired a new stake in shares of Danaher during the 3rd quarter worth approximately $592,000. 79.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Guggenheim raised their target price on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Piper Sandler initiated coverage on shares of Danaher in a research note on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. TD Cowen decreased their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.23.

Danaher Stock Performance

NYSE DHR opened at $218.85 on Thursday. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a 50 day moving average of $210.46 and a 200-day moving average of $194.25. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market cap of $153.85 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 2.68 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the company earned $0.77 EPS. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

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