Danaher Corporation $DHR Stake Lifted by Byrne Asset Management LLC

Byrne Asset Management LLC boosted its stake in Danaher Corporation (NYSE:DHR) by 9,327.0% in the third quarter, Holdings Channel.com reports. The firm owned 3,488 shares of the conglomerate’s stock after acquiring an additional 3,451 shares during the quarter. Byrne Asset Management LLC’s holdings in Danaher were worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its holdings in shares of Danaher by 1,250.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,700 shares of the conglomerate’s stock valued at $598,000 after purchasing an additional 2,500 shares during the last quarter. Ballew Advisors Inc purchased a new position in shares of Danaher in the 3rd quarter worth $1,274,000. Park National Corp OH boosted its holdings in Danaher by 6.7% in the third quarter. Park National Corp OH now owns 90,107 shares of the conglomerate’s stock valued at $18,187,000 after acquiring an additional 5,678 shares during the last quarter. Baker Tilly Wealth Management LLC purchased a new stake in Danaher during the third quarter valued at about $211,000. Finally, Eastover Investment Advisors LLC acquired a new stake in Danaher during the third quarter worth about $1,149,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Down 1.6%

Shares of NYSE DHR traded down $3.48 during trading on Tuesday, reaching $217.73. 1,774,393 shares of the stock were exchanged, compared to its average volume of 4,452,227. The business’s 50-day moving average price is $209.69 and its 200 day moving average price is $193.88. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $153.06 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 2.67 and a beta of 0.76.

Danaher (NYSE:DHR) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the business earned $0.77 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s payout ratio is 28.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Evercore restated an “outperform” rating and issued a $230.00 price target on shares of Danaher in a report on Monday, July 6th. Piper Sandler assumed coverage on shares of Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Danaher has an average rating of “Moderate Buy” and an average price target of $234.09.

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.