NewEdge Wealth LLC Boosts Stock Position in Danaher Corporation $DHR

NewEdge Wealth LLC boosted its holdings in shares of Danaher Corporation (NYSE:DHR) by 24.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 26,681 shares of the conglomerate’s stock after acquiring an additional 5,198 shares during the quarter. NewEdge Wealth LLC’s holdings in Danaher were worth $6,108,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new position in Danaher in the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in Danaher in the 3rd quarter worth about $25,000. WFA of San Diego LLC purchased a new position in Danaher in the 2nd quarter worth about $26,000. ANTIPODES PARTNERS Ltd purchased a new position in Danaher in the 3rd quarter worth about $27,000. Finally, Financial Life Planners purchased a new position in Danaher in the 3rd quarter worth about $32,000. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DHR. UBS Group reduced their price target on shares of Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a research note on Thursday, January 29th. Wolfe Research reduced their price target on shares of Danaher from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. TD Cowen reduced their price target on shares of Danaher from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Evercore raised their price target on shares of Danaher from $225.00 to $232.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.70.

Danaher Stock Down 0.1%

NYSE:DHR opened at $170.98 on Monday. Danaher Corporation has a fifty-two week low of $170.74 and a fifty-two week high of $242.80. The stock has a market capitalization of $121.01 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The company’s 50-day simple moving average is $191.25 and its 200-day simple moving average is $212.54.

Danaher (NYSE:DHR) last released its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.88 EPS. On average, equities analysts anticipate that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Danaher’s dividend payout ratio (DPR) is 30.95%.

Insider Buying and Selling

In related news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the sale, the executive vice president directly owned 5,099 shares in the company, valued at $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.80% of the stock is owned by company insiders.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.