Danaher Corporation $DHR Shares Newly Bought by Confluence Investment Management LLC

Confluence Investment Management LLC purchased a new position in Danaher Corporation (NYSE:DHR) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,315,100 shares of the conglomerate’s stock, valued at approximately $291,360,000. Danaher accounts for approximately 4.4% of Confluence Investment Management LLC’s holdings, making the stock its 3rd biggest position.

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

Danaher Price Performance

Shares of NYSE:DHR traded down $7.00 during midday trading on Thursday, reaching $214.55. The company’s stock had a trading volume of 1,632,244 shares, compared to its average volume of 4,456,548. The business’s fifty 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 Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a market capitalization of $150.83 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.82 and a beta of 0.78.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. DZ Bank started coverage on shares of Danaher in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 target price on the stock. Guggenheim lifted their price target on shares of Danaher from $200.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada boosted their price target on shares of Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. 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 report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.