Successful Portfolios LLC Makes New Investment in Danaher Corporation $DHR

Successful Portfolios LLC bought a new position in shares of Danaher Corporation (NYSE:DHR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 7,757 shares of the conglomerate’s stock, valued at approximately $1,719,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bill Few Associates Inc. bought a new stake in shares of Danaher in the 3rd quarter valued at about $1,316,000. Shulman DeMeo Asset Management LLC acquired a new position in shares of Danaher in the third quarter worth approximately $1,920,000. Bullock Wealth Management Group boosted its holdings in Danaher by 45,050.0% in the third quarter. Bullock Wealth Management Group now owns 4,515 shares of the conglomerate’s stock valued at $1,000,000 after acquiring an additional 4,505 shares during the last quarter. Wedmont Private Capital boosted its holdings in Danaher by 939.2% in the third quarter. Wedmont Private Capital now owns 30,988 shares of the conglomerate’s stock valued at $6,865,000 after acquiring an additional 28,006 shares during the last quarter. Finally, BOS Asset Management LLC acquired a new stake in Danaher during the 3rd quarter valued at approximately $1,207,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Trading Up 1.2%

Shares of Danaher stock traded up $2.69 on Friday, reaching $220.15. 3,934,329 shares of the company’s stock were exchanged, compared to its average volume of 4,457,726. The company has a market capitalization of $154.76 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The firm’s 50-day moving average is $211.38 and its two-hundred day moving average is $194.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Danaher’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DHR. The Goldman Sachs Group raised their price target on shares of Danaher from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Evercore reiterated an “outperform” rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. UBS Group assumed coverage on shares of Danaher in a report on Wednesday, September 9th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Royal Bank Of Canada increased their price target on Danaher from $215.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.23.

Danaher Company 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.