Fortis Capital Management LLC Cuts Holdings in Danaher Co. (NYSE:DHR)

by · The Cerbat Gem

Fortis Capital Management LLC cut its stake in Danaher Co. (NYSE:DHR – Free Report) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,083 shares of the conglomerate’s stock after selling 349 shares during the quarter. Fortis Capital Management LLC’s holdings in Danaher were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Entropy Technologies LP bought a new position in shares of Danaher in the first quarter worth about $1,059,000. HBK Sorce Advisory LLC raised its stake in Danaher by 5.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 3,496 shares of the conglomerate’s stock worth $873,000 after acquiring an additional 196 shares during the period. RFP Financial Group LLC lifted its holdings in Danaher by 14.1% during the first quarter. RFP Financial Group LLC now owns 541 shares of the conglomerate’s stock valued at $135,000 after purchasing an additional 67 shares in the last quarter. Glaxis Capital Management LLC bought a new position in shares of Danaher in the first quarter worth approximately $375,000. Finally, Nwam LLC lifted its stake in shares of Danaher by 7.9% during the 1st quarter. Nwam LLC now owns 25,260 shares of the conglomerate’s stock valued at $6,284,000 after buying an additional 1,853 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DHR shares. Wells Fargo & Company assumed coverage on Danaher in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price target for the company. KeyCorp increased their price target on Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised Danaher from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI boosted their target price on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price objective on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.16.

Read Our Latest Report on DHR

Insiders Place Their Bets

In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Danaher Stock Performance

DHR stock opened at $241.47 on Thursday. The company has a market capitalization of $174.41 billion, a P/E ratio of 46.08, a PEG ratio of 4.40 and a beta of 0.85. Danaher Co. has a 1-year low of $200.36 and a 1-year high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The business has a 50-day moving average price of $263.88 and a 200 day moving average price of $260.77.

Danaher (NYSE:DHR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 earnings per share. As a group, equities research analysts forecast that Danaher Co. will post 7.51 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, September 27th. Danaher’s dividend payout ratio is currently 20.61%.

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.

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