Sard Wealth Management Group LLC Purchases New Shares in Danaher Corporation $DHR

Sard Wealth Management Group LLC purchased a new position in shares of Danaher Corporation (NYSE:DHR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,534 shares of the conglomerate’s stock, valued at approximately $1,891,000. Danaher comprises about 0.8% of Sard Wealth Management Group LLC’s holdings, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DHR. BlackRock Inc. acquired a new stake in shares of Danaher in the second quarter valued at approximately $10,492,520,000. Wellington Management Group LLP raised its position in shares of Danaher by 10.4% in the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock valued at $3,108,031,000 after purchasing an additional 1,542,310 shares during the period. Jupiter Topco LLC acquired a new stake in Danaher during the second quarter worth approximately $1,456,317,000. Generation Investment Management LLP acquired a new stake in Danaher during the 2nd quarter worth approximately $1,287,949,000. Finally, Bank of America Corp DE bought a new stake in shares of Danaher in the second quarter valued at about $993,846,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

Shares of DHR traded down $2.63 during trading hours on Friday, hitting $228.87. The company’s stock had a trading volume of 3,516,366 shares, compared to its average volume of 4,667,069. The business has a 50 day simple moving average of $214.04 and a two-hundred day simple moving average of $195.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a market cap of $160.89 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.91 and a beta of 0.76.

Danaher (NYSE:DHR) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.09. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, equities analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s payout ratio is 28.42%.

Analysts Set New Price Targets

A number of research firms recently commented on DHR. The Goldman Sachs Group boosted their price target on Danaher from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Wall Street Zen upgraded Danaher from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. TD Cowen raised their price target on shares of Danaher from $236.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. Finally, Guggenheim increased their price target on Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.41.

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.