Danaher Corporation $DHR Stock Holdings Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in shares of Danaher Corporation (NYSE:DHR) by 55.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,386 shares of the conglomerate’s stock after selling 6,824 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Danaher were worth $1,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DHR. Marquette Asset Management LLC lifted its holdings in Danaher by 192.1% during the 3rd quarter. Marquette Asset Management LLC now owns 111 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 73 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Danaher in the 2nd quarter valued at $25,000. Main Street Group LTD acquired a new position in Danaher in the 1st quarter valued at $25,000. Field & Main Bank acquired a new position in Danaher in the 2nd quarter valued at $29,000. Finally, Solstein Capital LLC acquired a new position in Danaher in the 2nd quarter valued at $33,000. Institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

DHR stock opened at $235.21 on Tuesday. The company’s 50-day moving average price is $220.65 and its two-hundred day moving average price is $201.57. The firm has a market cap of $165.48 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.95 and a beta of 0.76. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.19. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, analysts anticipate that Danaher Corporation will post 8.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s dividend payout ratio (DPR) is presently 26.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their target price on Danaher from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. TD Cowen upped their price target on shares of Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. UBS Group reaffirmed a “buy” rating and set a $260.00 price target on shares of Danaher in a research report on Thursday, October 22nd. Robert W. Baird raised their price target on shares of Danaher from $246.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings upgraded shares of Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Danaher has an average rating of “Moderate Buy” and a consensus price target of $242.91.

Insider Activity

In other news, CAO Christopher Bouda sold 7,598 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the transaction, the chief accounting officer owned 9,107 shares of the company’s stock, valued at approximately $2,136,137.92. The trade was a 45.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.80% of the company’s stock.

Danaher Profile

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing.

The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.