Danaher Co. (NYSE:DHR) Stake Lessened by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its holdings in shares of Danaher Co. (NYSE:DHR) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,712 shares of the conglomerate’s stock after selling 193 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Danaher were worth $754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fort Pitt Capital Group LLC lifted its stake in Danaher by 3.2% during the third quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock valued at $66,194,000 after purchasing an additional 7,421 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Danaher during the third quarter valued at approximately $217,000. Oak Thistle LLC acquired a new stake in Danaher during the second quarter valued at approximately $363,000. Duality Advisers LP acquired a new stake in Danaher during the first quarter valued at approximately $5,573,000. Finally, Diversified Trust Co lifted its stake in Danaher by 75.4% during the second quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock valued at $1,090,000 after purchasing an additional 1,874 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Down 0.9 %

Danaher stock opened at $247.81 on Thursday. The company has a market capitalization of $178.99 billion, a P/E ratio of 47.29, a P/E/G ratio of 4.55 and a beta of 0.85. The firm’s fifty day simple moving average is $265.79 and its 200-day simple moving average is $260.75. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Danaher Co. has a 1-year low of $192.35 and a 1-year high of $281.70.

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

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.44%. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

Analysts Set New Price Targets

Several brokerages recently commented on DHR. StockNews.com upgraded shares of Danaher from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Danaher in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.16.

Insider Buying and Selling

In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares in the company, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.90% of the company’s stock.

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.