Associated Banc Corp Decreases Stake in Danaher Co. (NYSE:DHR)

by · The Markets Daily

Associated Banc Corp lowered its position in Danaher Co. (NYSE:DHR – Free Report) by 4.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 72,084 shares of the conglomerate’s stock after selling 3,343 shares during the period. Associated Banc Corp’s holdings in Danaher were worth $20,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Danaher during the 2nd quarter worth $25,000. nVerses Capital LLC acquired a new stake in shares of Danaher during the 2nd quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Danaher during the 3rd quarter worth about $40,000. MFA Wealth Advisors LLC acquired a new stake in shares of Danaher during the 2nd quarter worth about $51,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Danaher during the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DHR. Robert W. Baird dropped their target price on Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a research note on Wednesday, October 23rd. UBS Group reduced their price objective on Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Raymond James reduced their price objective on Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Danaher currently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

Check Out Our Latest Analysis on Danaher

Danaher Trading Up 0.6 %

NYSE DHR traded up $1.40 during trading hours on Monday, hitting $237.24. 219,398 shares of the company’s stock were exchanged, compared to its average volume of 2,749,817. The business’s 50 day moving average is $258.15 and its 200-day moving average is $260.03. Danaher Co. has a 12-month low of $215.68 and a 12-month high of $281.70. The firm has a market capitalization of $171.35 billion, a P/E ratio of 45.01, a price-to-earnings-growth ratio of 4.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37.

Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping 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 company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $2.02 EPS. As a group, analysts anticipate that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Danaher’s 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.

Further Reading

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