Stonebridge Financial Group LLC Purchases New Holdings in Danaher Corporation $DHR

Stonebridge Financial Group LLC purchased a new stake in Danaher Corporation (NYSE:DHR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,080 shares of the conglomerate’s stock, valued at approximately $8,880,000.

Several other institutional investors have also recently made changes to their positions in DHR. Main Street Group LTD purchased a new position in Danaher in the first quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Danaher during the 2nd quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Danaher during the 4th quarter valued at approximately $27,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock valued at $29,000 after acquiring an additional 53 shares during the period. Finally, Evolution Wealth Management Inc. increased its holdings in Danaher by 208.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Down 4.5%

Shares of NYSE DHR traded down $10.08 during mid-day trading on Thursday, hitting $211.47. The company had a trading volume of 5,302,533 shares, compared to its average volume of 4,477,097. The company has a market capitalization of $148.66 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.78. The business’s 50-day simple moving average is $208.38 and its 200 day simple moving average is $193.37. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

Danaher (NYSE:DHR) last issued its quarterly 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 company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS. On average, analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Danaher’s dividend payout ratio is presently 28.42%.

Analyst Ratings Changes

A number of equities analysts have weighed in on DHR shares. HSBC reduced their price objective on shares of Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. TD Cowen decreased their price target on shares of Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a report on Monday, July 6th. Royal Bank Of Canada boosted their price objective on Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.50.

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.