2,396 Danaher Corporation $DHR Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its position in Danaher Corporation (NYSE:DHR) by 2,047.9% in the third quarter, HoldingsChannel.com reports. The fund owned 2,513 shares of the conglomerate’s stock after buying an additional 2,396 shares during the period. Provenance Wealth Advisors LLC’s holdings in Danaher were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marquette Asset Management LLC grew its stake in Danaher by 192.1% during the 3rd 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. N.E.W. Advisory Services LLC acquired a new position in shares of Danaher in the second quarter valued at about $25,000. Main Street Group LTD purchased a new position in shares of Danaher in the first quarter worth about $25,000. Field & Main Bank purchased a new position in shares of Danaher in the second quarter worth about $29,000. Finally, Solstein Capital LLC purchased a new position in shares of Danaher in the second quarter worth about $33,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings raised Danaher from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Barclays increased their price target on shares of Danaher from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Danaher from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 price target on shares of Danaher in a research report on Thursday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.91.

Danaher Stock Down 3.6%

Shares of DHR opened at $226.43 on Friday. The company has a market capitalization of $159.30 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.95 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 stock’s 50-day moving average price is $219.98 and its 200-day moving average price is $201.62. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.56 billion. During the same period last year, the business earned $1.89 earnings per share. Danaher’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Announces Dividend

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

Insider Activity at Danaher

In other news, CAO Christopher Bouda sold 7,598 shares of Danaher 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 directly owned 9,107 shares of the company’s stock, valued at $2,136,137.92. The trade was a 45.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.80% of the stock is owned by insiders.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.