Danaher Corporation $DHR Stock: Legacy Wealth Management LLC MS Reduces Stake

Legacy Wealth Management LLC MS lowered its position in Danaher Corporation (NYSE:DHR) by 32.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,242 shares of the conglomerate’s stock after selling 2,958 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Danaher were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Eads & Heald Wealth Management increased its position in shares of Danaher by 2.0% in the third quarter. Eads & Heald Wealth Management now owns 6,438 shares of the conglomerate’s stock valued at $1,426,000 after acquiring an additional 128 shares during the period. Next Level Wealth Planning LLC bought a new position in shares of Danaher during the third quarter valued at about $61,000. XML Financial LLC boosted its holdings in shares of Danaher by 459.9% during the third quarter. XML Financial LLC now owns 6,758 shares of the conglomerate’s stock worth $1,497,000 after purchasing an additional 5,551 shares during the period. Trek Financial LLC boosted its holdings in shares of Danaher by 23.9% during the third quarter. Trek Financial LLC now owns 12,701 shares of the conglomerate’s stock worth $2,814,000 after purchasing an additional 2,450 shares during the period. Finally, Columbia Bank purchased a new stake in shares of Danaher during the third quarter worth about $233,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Down 1.8%

Danaher stock opened at $228.04 on Tuesday. The stock has a market cap of $160.44 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.29 and a current ratio of 1.63. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The stock has a fifty day moving average of $219.09 and a 200 day moving average of $201.73.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.19. The company had revenue of $6.55 billion for 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 revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, sell-side analysts predict that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Dividend Announcement

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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher’s dividend payout ratio (DPR) is currently 26.19%.

Insider Buying and Selling at Danaher

In other news, CAO Christopher Bouda sold 7,598 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the sale, the chief accounting officer owned 9,107 shares of the company’s stock, valued at $2,136,137.92. The trade was a 45.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DHR shares. JPMorgan Chase & Co. boosted their price target on Danaher from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $275.00 price objective on shares of Danaher in a research report on Thursday, October 22nd. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a research note on Monday, October 26th. Weiss Ratings upgraded Danaher from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Finally, Evercore reiterated an “outperform” rating and issued a $230.00 price target on shares of Danaher in a report on Monday, July 6th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Danaher has an average rating of “Moderate Buy” and an average price target of $242.91.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.