Connecticut Wealth Management LLC Raises Holdings in Danaher Co. (NYSE:DHR)

by · The Markets Daily

Connecticut Wealth Management LLC boosted its stake in shares of Danaher Co. (NYSE:DHR – Free Report) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,669 shares of the conglomerate’s stock after acquiring an additional 128 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Danaher were worth $2,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Danaher during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new stake in Danaher during the 4th quarter valued at about $31,000. Hurley Capital LLC purchased a new stake in Danaher during the 4th quarter valued at about $34,000. Pineridge Advisors LLC boosted its holdings in Danaher by 63.3% during the 4th quarter. Pineridge Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 57 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in Danaher during the 4th quarter valued at about $34,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DHR has been the subject of several research analyst reports. Guggenheim reiterated a “buy” rating and issued a $250.00 price objective on shares of Danaher in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their price objective on Danaher from $260.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. HSBC lowered their target price on Danaher from $270.00 to $240.00 in a research note on Friday, April 25th. UBS Group lowered their target price on Danaher from $275.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Barclays raised their target price on Danaher from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $263.24.

Read Our Latest Report on DHR

Danaher Stock Down 5.7%

Danaher stock opened at $186.50 on Thursday. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 2.66 and a beta of 0.80. The stock has a fifty day simple moving average of $196.07 and a two-hundred day simple moving average of $216.57. Danaher Co. has a 12 month low of $171.00 and a 12 month high of $281.70. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR – Get Free Report) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. Equities analysts predict that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.69%. Danaher’s dividend payout ratio (DPR) is presently 24.85%.

Insider Activity at Danaher

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

Danaher Company Profile

(Free Report)

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.

Further Reading

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