Danaher Co. (NYSE:DHR) Shares Purchased by SouthState Corp

SouthState Corp boosted its stake in Danaher Co. (NYSE:DHR) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 100,890 shares of the conglomerate’s stock after purchasing an additional 1,457 shares during the period. Danaher comprises approximately 1.9% of SouthState Corp’s portfolio, making the stock its 9th largest position. SouthState Corp’s holdings in Danaher were worth $28,049,000 at the end of the most recent reporting period.

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

Danaher Stock Performance

Shares of DHR stock opened at $229.50 on Tuesday. The business’s 50 day simple moving average is $261.33 and its 200 day simple moving average is $260.45. Danaher Co. has a one year low of $207.63 and a one year high of $281.70. The stock has a market capitalization of $165.76 billion, a PE ratio of 43.80, a PEG ratio of 4.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. Danaher’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. As a group, research analysts forecast that Danaher Co. will post 7.51 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently disclosed 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 was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.47%. Danaher’s dividend payout ratio is 20.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHR. Evercore ISI upped their price objective on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Raymond James dropped their price objective on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays lowered their price target on shares of Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Leerink Partners raised their price target on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, TD Cowen increased their price objective on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

Insiders Place Their Bets

In other Danaher news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the sale, the senior vice president now directly owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.90% of the company’s stock.

Danaher Profile

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.