Veracity Capital LLC Acquires New Position in Danaher Corporation $DHR

Key Points

• Veracity Capital acquired 4,710 Danaher shares worth approximately $1.04 million in the third quarter, while institutional investors collectively own 79.05% of the company.
• Analysts maintain a generally positive outlook, with Danaher carrying a “Moderate Buy” consensus rating and an average price target of $235.23.
• Danaher exceeded quarterly expectations with $1.94 in EPS and $6.26 billion in revenue, while announcing a quarterly dividend of $0.40 per share, representing a 0.7% annualized yield.

Veracity Capital LLC acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,710 shares of the conglomerate's stock, valued at approximately $1,044,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new position in shares of Danaher in the 2nd quarter valued at approximately $3,807,000. Puzo Michael J purchased a new stake in Danaher in the second quarter worth $8,624,000. Madison Asset Management LLC bought a new position in Danaher in the second quarter worth $85,451,000. First Nebraska Trust Co bought a new position in Danaher in the second quarter worth $14,106,000. Finally, Colton Groome Financial Advisors LLC bought a new stake in shares of Danaher during the 3rd quarter valued at $592,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHR. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price target on shares of Danaher in a research note on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. Piper Sandler assumed coverage on shares of Danaher in a research note on Thursday, June 11th. They set a "neutral" rating and a $200.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Finally, TD Cowen dropped their price target on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Two 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.23.

Danaher Stock Performance

DHR traded down $3.27 during midday trading on Thursday, hitting $215.22. 3,143,285 shares of the company traded hands, compared to its average volume of 4,452,785. The company's 50-day moving average is $210.46 and its 200 day moving average is $194.25. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $151.29 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.68 and a beta of 0.76. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced 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 net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts expect that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Dividend Announcement

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