Convergence Financial LLC Has $643,000 Position in Danaher Corporation $DHR

Convergence Financial LLC boosted its position in Danaher Corporation (NYSE:DHR) by 161.9% during the second quarter, HoldingsChannel.com reports. The fund owned 3,255 shares of the conglomerate’s stock after buying an additional 2,012 shares during the quarter. Convergence Financial LLC’s holdings in Danaher were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DHR. Nuveen LLC acquired a new stake in Danaher during the first quarter worth approximately $833,941,000. Invesco Ltd. increased its stake in shares of Danaher by 44.5% in the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock valued at $965,259,000 after acquiring an additional 1,450,703 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Danaher by 290.6% in the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock valued at $295,550,000 after acquiring an additional 1,072,617 shares in the last quarter. Generation Investment Management LLP boosted its stake in Danaher by 33.2% during the first quarter. Generation Investment Management LLP now owns 3,178,124 shares of the conglomerate’s stock worth $651,515,000 after acquiring an additional 791,662 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in Danaher by 23.3% during the first quarter. Parnassus Investments LLC now owns 3,828,024 shares of the conglomerate’s stock worth $784,745,000 after acquiring an additional 722,636 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Teri List sold 2,778 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the sale, the director directly owned 20,751 shares of the company’s stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DHR has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Danaher from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Rothschild & Co Redburn reissued a “neutral” rating and issued a $220.00 price objective (down previously from $245.00) on shares of Danaher in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Danaher in a research report on Wednesday, October 8th. Finally, Bank of America decreased their price target on shares of Danaher from $230.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and an average price target of $243.39.

Danaher Trading Down 0.1%

Shares of Danaher stock opened at $213.89 on Wednesday. The company has a market capitalization of $151.08 billion, a P/E ratio of 44.10, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. The stock has a fifty day simple moving average of $203.68 and a 200 day simple moving average of $199.98. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $258.23. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, October 21st. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6 billion. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, sell-side analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, September 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, September 26th. Danaher’s payout ratio is presently 26.39%.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.