Opal Wealth Advisors LLC Invests $138,000 in Danaher Co. (NYSE:DHR)

Opal Wealth Advisors LLC purchased a new position in shares of Danaher Co. (NYSE:DHR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 674 shares of the conglomerate’s stock, valued at approximately $138,000.

Several other hedge funds have also modified their holdings of the stock. Spinnaker Trust boosted its holdings in Danaher by 1.2% in the fourth quarter. Spinnaker Trust now owns 4,304 shares of the conglomerate’s stock valued at $988,000 after purchasing an additional 50 shares during the period. Fortis Capital Advisors LLC boosted its holdings in Danaher by 1.3% in the fourth quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate’s stock valued at $914,000 after purchasing an additional 50 shares during the period. Fayez Sarofim & Co boosted its holdings in Danaher by 0.6% in the fourth quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate’s stock valued at $1,902,000 after purchasing an additional 50 shares during the period. Coastal Bridge Advisors LLC boosted its holdings in Danaher by 4.8% in the fourth quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate’s stock valued at $252,000 after purchasing an additional 50 shares during the period. Finally, Perennial Investment Advisors LLC boosted its holdings in Danaher by 2.2% in the fourth quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate’s stock valued at $538,000 after purchasing an additional 51 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Down 2.2%

Danaher stock opened at $200.51 on Friday. Danaher Co. has a fifty-two week low of $171.00 and a fifty-two week high of $281.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 1.40. The company has a market capitalization of $143.50 billion, a P/E ratio of 37.98, a PEG ratio of 2.66 and a beta of 0.77. The stock has a 50-day simple moving average of $192.80 and a 200-day simple moving average of $211.00.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. Equities research analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.64%. Danaher’s dividend payout ratio (DPR) is presently 24.85%.

Insider Activity at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the transaction, the executive vice president now owns 15,179 shares in the company, valued at $3,005,442. The trade was a 51.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the transaction, the chairman now owns 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DHR. HSBC decreased their target price on Danaher from $270.00 to $240.00 in a report on Friday, April 25th. Argus decreased their price target on Danaher from $260.00 to $240.00 in a report on Wednesday, April 23rd. Evercore ISI decreased their price target on Danaher from $240.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Citigroup reaffirmed a “buy” rating on shares of Danaher in a report on Monday, April 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.17.

Danaher Profile

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.