Confluence Wealth Services Inc. Sells 590 Shares of Danaher Co. (NYSE:DHR)

Confluence Wealth Services Inc. cut its holdings in Danaher Co. (NYSE:DHR) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,784 shares of the conglomerate’s stock after selling 590 shares during the period. Confluence Wealth Services Inc.’s holdings in Danaher were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Danaher during the 2nd quarter valued at $25,000. nVerses Capital LLC bought a new position in shares of Danaher during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Danaher in the 2nd quarter valued at about $51,000. Financial Connections Group Inc. bought a new stake in Danaher in the 2nd quarter valued at about $51,000. Finally, Western Pacific Wealth Management LP acquired a new position in Danaher during the 1st quarter worth approximately $55,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other Danaher news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the sale, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by company insiders.

Danaher Price Performance

Shares of NYSE:DHR opened at $247.76 on Monday. The company has a 50-day moving average price of $266.95 and a two-hundred day moving average price of $260.66. Danaher Co. has a twelve month low of $190.95 and a twelve month high of $281.70. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $178.95 billion, a PE ratio of 47.28, a P/E/G ratio of 4.51 and a beta of 0.85.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the firm posted $2.02 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts forecast that Danaher Co. will post 7.51 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s payout ratio is 20.61%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DHR. Stifel Nicolaus boosted their price objective on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. TD Cowen raised their price objective on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $315.00 target price on shares of Danaher in a report on Wednesday, October 23rd. Robert W. Baird decreased their price objective on Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Leerink Partners lifted their target price on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

Danaher 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.