W.H. Cornerstone Investments Inc. Cuts Stake in Danaher Co. (NYSE:DHR)

05 Nov 2024, 16:58 by Michael Walen · The Markets Daily

W.H. Cornerstone Investments Inc. trimmed its holdings in shares of Danaher Co. (NYSE:DHR – Free Report) by 16.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,157 shares of the conglomerate’s stock after selling 618 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Danaher were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of Danaher in the second quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Danaher during the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Danaher during the second quarter valued at approximately $51,000. Financial Connections Group Inc. acquired a new position in Danaher in the second quarter valued at approximately $51,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Danaher during the 1st quarter worth approximately $55,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of DHR stock opened at $247.18 on Tuesday. Danaher Co. has a 12 month low of $192.35 and a 12 month high of $281.70. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The company has a market cap of $178.53 billion, a P/E ratio of 47.17, a PEG ratio of 4.55 and a beta of 0.85. The firm has a fifty day moving average price of $266.53 and a 200 day moving average price of $260.74.

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, beating analysts’ consensus estimates of $1.57 by $0.14. The business 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 business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.02 EPS. Sell-side analysts predict that Danaher Co. will post 7.51 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were given 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 0.44%. Danaher’s dividend payout ratio is presently 20.61%.

Insider Activity

In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the sale, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

DHR has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Bank of America increased their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company started coverage on shares of Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target for the company. Evercore ISI raised their price objective on Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Leerink Partners increased their target price on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average price target of $287.16.

Check Out Our Latest Report on DHR

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.