Kornitzer Capital Management Inc. KS Sells 6,824 Shares of Danaher Corporation $DHR

Kornitzer Capital Management Inc. KS lessened its stake in shares of Danaher Corporation (NYSE:DHR) by 55.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,386 shares of the conglomerate’s stock after selling 6,824 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Danaher were worth $1,193,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Main Street Group LTD bought a new stake in Danaher during the 1st quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new position in Danaher in the 2nd quarter worth about $25,000. Marquette Asset Management LLC raised its position in Danaher by 192.1% in the third quarter. Marquette Asset Management LLC now owns 111 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 73 shares during the last quarter. Field & Main Bank bought a new position in Danaher in the second quarter valued at about $29,000. Finally, Solstein Capital LLC acquired a new stake in shares of Danaher during the second quarter valued at about $33,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Danaher news, CAO Christopher Bouda sold 7,598 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 9,107 shares in the company, valued at approximately $2,136,137.92. This trade represents a 45.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.80% of the company’s stock.

Danaher Trading Up 2.2%

NYSE DHR opened at $235.21 on Tuesday. The firm has a market capitalization of $165.48 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 2.95 and a beta of 0.76. The business’s 50-day moving average price is $220.65 and its two-hundred day moving average price is $201.57. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR) last issued 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. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Danaher’s dividend payout ratio is currently 26.19%.

Analysts Set New Price Targets

Several analysts have recently weighed in on DHR shares. JPMorgan Chase & Co. boosted their price target on Danaher from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. UBS Group reiterated a “buy” rating and issued a $260.00 price objective on shares of Danaher in a report on Thursday, October 22nd. Wells Fargo & Company cut their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Robert W. Baird lifted their target price on shares of Danaher from $246.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Finally, Stifel Nicolaus upped their price target on shares of Danaher from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.91.

About Danaher

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing.

The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.