WealthBridge Capital Management LLC Makes New Investment in Danaher Corporation $DHR

Key Points

• WealthBridge Capital Management initiated a Danaher position by purchasing 4,791 shares valued at approximately $1.06 million. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Danaher reported quarterly earnings of $1.94 per share and revenue of $6.26 billion, exceeding analyst expectations, while revenue increased 5.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.41. Danaher also declared a quarterly dividend of $0.40 per share, representing a 0.7% annual yield.

WealthBridge Capital Management LLC purchased a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,791 shares of the conglomerate's stock, valued at approximately $1,061,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DHR. BlackRock Inc. acquired a new position in shares of Danaher in the 2nd quarter valued at $10,492,520,000. Jupiter Topco LLC bought a new position in shares of Danaher during the 2nd quarter worth about $1,456,317,000. Generation Investment Management LLP acquired a new stake in shares of Danaher during the 2nd quarter valued at about $1,287,949,000. Bank of America Corp DE acquired a new stake in shares of Danaher during the 2nd quarter valued at about $993,846,000. Finally, Legal & General Group Plc bought a new stake in Danaher in the second quarter valued at about $801,056,000. Institutional investors own 79.05% of the company's stock.

Danaher Price Performance

Shares of NYSE DHR traded down $2.63 during midday trading on Friday, reaching $228.87. 3,516,366 shares of the company traded hands, compared to its average volume of 4,667,069. The firm has a market cap of $160.89 billion, a PE ratio of 40.65, a PEG ratio of 2.91 and a beta of 0.76. The stock's 50-day simple moving average is $214.04 and its 200-day simple moving average is $195.97. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. 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 for the quarter, topping the consensus estimate of $1.85 by $0.09. The business 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 firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company 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 $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher's payout ratio is 28.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Guggenheim increased their price target on shares of Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Weiss Ratings upgraded shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. The Goldman Sachs Group lifted their price objective on Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 21st. Wells Fargo & Company lowered their price objective on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Barclays increased their target price on Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $235.41.

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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