Graves Light Lenhart Wealth Inc. Purchases New Position in Danaher Corporation $DHR

Graves Light Lenhart Wealth Inc. acquired a new stake in shares of Danaher Corporation (NYSE:DHR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,421 shares of the conglomerate’s stock, valued at approximately $2,087,000.

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

Danaher Stock Performance

Shares of NYSE DHR opened at $217.33 on Friday. 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 stock has a market capitalization of $152.78 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.72 and a beta of 0.76. The stock’s fifty day simple moving average is $210.88 and its 200 day simple moving average is $194.44. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80.

Danaher (NYSE:DHR) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher’s dividend payout ratio (DPR) is presently 28.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DHR. TD Cowen cut their price objective on shares of Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Evercore restated an “outperform” rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Barclays raised their price target on shares of Danaher from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler initiated coverage on Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective for the company. Finally, Weiss Ratings raised Danaher from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.23.

Danaher 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.