Ridgewood Investments LLC Invests $70,000 in Danaher Co. (NYSE:DHR)

Posted by Defense World Staff on Jul 10th, 2023

Ridgewood Investments LLC acquired a new stake in Danaher Co. (NYSE:DHR – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 278 shares of the conglomerate’s stock, valued at approximately $70,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Freedom Wealth Alliance LLC purchased a new position in Danaher during the 4th quarter worth $27,000. Chelsea Counsel Co. bought a new stake in shares of Danaher in the fourth quarter valued at about $27,000. GPS Wealth Strategies Group LLC purchased a new stake in Danaher in the first quarter worth about $25,000. My Personal CFO LLC bought a new position in Danaher during the 4th quarter worth about $29,000. Finally, Private Ocean LLC increased its position in Danaher by 1,485.7% during the 4th quarter. Private Ocean LLC now owns 111 shares of the conglomerate’s stock valued at $29,000 after purchasing an additional 104 shares during the period. 75.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Danaher from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $310.00 to $250.00 in a research note on Wednesday, April 26th. Royal Bank of Canada decreased their price objective on Danaher from $289.00 to $260.00 in a research note on Wednesday, April 26th. Citigroup cut their target price on Danaher from $325.00 to $300.00 in a research note on Wednesday, April 26th. Barclays lowered their price target on shares of Danaher from $270.00 to $260.00 in a report on Wednesday, April 26th. Finally, Wells Fargo & Company raised Danaher from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $275.00 to $285.00 in a report on Tuesday, April 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $294.88.

Insider Transactions at Danaher

In related news, SVP Daniel Raskas sold 19,847 shares of Danaher stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $228.50, for a total transaction of $4,535,039.50. Following the transaction, the senior vice president now owns 38,673 shares in the company, valued at $8,836,780.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Daniel Raskas sold 19,847 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $228.50, for a total value of $4,535,039.50. Following the completion of the sale, the senior vice president now owns 38,673 shares of the company’s stock, valued at approximately $8,836,780.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jose-Carlos Gutierrez-Ramos sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $242.19, for a total value of $121,095.00. Following the completion of the transaction, the senior vice president now owns 7,529 shares in the company, valued at $1,823,448.51. The disclosure for this sale can be found here. Insiders have sold a total of 34,466 shares of company stock worth $8,103,781 in the last ninety days. Insiders own 11.10% of the company’s stock.

Danaher Stock Down 0.6 %

DHR stock opened at $233.08 on Monday. The stock has a market capitalization of $171.99 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.35 and a beta of 0.80. Danaher Co. has a 52 week low of $221.22 and a 52 week high of $303.82. The firm has a 50-day simple moving average of $235.07 and a 200-day simple moving average of $248.17. The company has a quick ratio of 1.51, a current ratio of 1.89 and a debt-to-equity ratio of 0.37.

Danaher (NYSE:DHR – Free Report) last announced its earnings results on Tuesday, April 25th. The conglomerate reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.10. Danaher had a return on equity of 16.70% and a net margin of 22.40%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.06 billion. During the same quarter in the prior year, the firm earned $2.76 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Equities analysts forecast that Danaher Co. will post 9.43 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, June 29th. Danaher’s dividend payout ratio (DPR) is 11.64%.

About Danaher

(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; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.