Confluence Investment Management LLC Purchases New Position in Danaher Corporation $DHR

Confluence Investment Management LLC acquired a new position in shares of Danaher Corporation (NYSE:DHR) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,315,100 shares of the conglomerate’s stock, valued at approximately $291,360,000. Danaher comprises 4.4% of Confluence Investment Management LLC’s holdings, making the stock its 3rd biggest position. Confluence Investment Management LLC owned about 0.19% of Danaher at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Danaher in the 2nd quarter valued at about $10,492,520,000. Jupiter Topco LLC acquired a new position in Danaher during the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP acquired a new position in shares of Danaher during the second quarter valued at $1,287,949,000. Bank of America Corp DE bought a new stake in shares of Danaher during the 2nd quarter worth about $993,846,000. Finally, Legal & General Group Plc bought a new position in shares of Danaher in the second quarter valued at approximately $801,056,000. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DHR has been the topic of a number of research reports. UBS Group began coverage on Danaher in a research note on Wednesday, September 9th. They issued a “buy” rating and a $250.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Danaher from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Piper Sandler assumed coverage on Danaher in a research report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 target price for the company. Evercore reissued an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.50.

Danaher Stock Performance

Shares of NYSE DHR traded down $7.00 during mid-day trading on Thursday, hitting $214.55. The company had a trading volume of 1,632,244 shares, compared to its average volume of 4,456,548. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The firm has a market cap of $150.83 billion, a P/E ratio of 38.06, a PEG 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. 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 posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts predict that Danaher Corporation will post 8.53 earnings per share for the current fiscal 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher’s dividend payout ratio is presently 28.42%.

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.