Pinnacle Associates Ltd. Acquires 749 Shares of Danaher Co. (NYSE:DHR)

Posted by on Apr 6th, 2023

Pinnacle Associates Ltd. lifted its holdings in shares of Danaher Co. (NYSE:DHR – Get Rating) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,054 shares of the conglomerate’s stock after acquiring an additional 749 shares during the period. Pinnacle Associates Ltd.’s holdings in Danaher were worth $1,884,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DHR. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Danaher by 515.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,348,688 shares of the conglomerate’s stock worth $606,643,000 after purchasing an additional 1,966,793 shares in the last quarter. Vanguard Group Inc. raised its position in Danaher by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 53,690,131 shares of the conglomerate’s stock valued at $13,867,623,000 after buying an additional 995,501 shares during the last quarter. Castleview Partners LLC lifted its stake in Danaher by 23,726.6% during the 2nd quarter. Castleview Partners LLC now owns 791,996 shares of the conglomerate’s stock valued at $3,124,000 after acquiring an additional 788,672 shares in the last quarter. First Trust Advisors LP boosted its holdings in Danaher by 176.9% during the 3rd quarter. First Trust Advisors LP now owns 887,559 shares of the conglomerate’s stock worth $229,247,000 after acquiring an additional 567,006 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Danaher by 15.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,973,559 shares of the conglomerate’s stock worth $1,007,316,000 after acquiring an additional 523,791 shares in the last quarter. Institutional investors and hedge funds own 77.26% of the company’s stock.

Insider Activity

In other Danaher news, Director Raymond C. Stevens sold 8,410 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $264.27, for a total value of $2,222,510.70. Following the completion of the transaction, the director now directly owns 8,394 shares of the company’s stock, valued at approximately $2,218,282.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DHR. Deutsche Bank Aktiengesellschaft began coverage on shares of Danaher in a research report on Tuesday, December 13th. They set a “buy” rating and a $310.00 price target on the stock. Cowen dropped their price target on Danaher from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, January 25th. Barclays reduced their price objective on Danaher from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com began coverage on Danaher in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Credit Suisse Group lowered shares of Danaher from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $300.00 in a research report on Thursday, January 5th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and an average target price of $308.86.

Danaher Trading Down 0.5 %

Shares of Danaher stock opened at $247.70 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.52 and a current ratio of 1.89. The stock has a market capitalization of $180.60 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.07 and a beta of 0.80. Danaher Co. has a 52-week low of $233.71 and a 52-week high of $303.82. The stock’s 50-day simple moving average is $252.64 and its 200 day simple moving average is $259.51.

Danaher (NYSE:DHR – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.41. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $7.90 billion. Danaher had a net margin of 22.91% and a return on equity of 17.97%. Danaher’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. As a group, research analysts anticipate that Danaher Co. will post 10.14 EPS for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.08 annualized dividend and a yield of 0.44%. This is an increase from Danaher’s previous quarterly dividend of $0.25. Danaher’s dividend payout ratio (DPR) is currently 11.19%.

Danaher Profile

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Danaher Corp. engages in the design, manufacture, and marketing of professional, medical, industrial, and commercial products and services. It operates through the following segments: Biotechnology, Life Sciences, Diagnostics, and Environmental and Applied Solutions. The Biotechnology segment includes the bioprocessing and discovery and medical businesses and offers a range of tools, consumables, and services.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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