Cadence Bank Lowers Stock Holdings in Danaher Co. (NYSE:DHR)

Cadence Bank lessened its stake in shares of Danaher Co. (NYSE:DHR) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,788 shares of the conglomerate’s stock after selling 215 shares during the quarter. Cadence Bank’s holdings in Danaher were worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DHR. Avestar Capital LLC raised its position in Danaher by 6.5% during the 3rd quarter. Avestar Capital LLC now owns 3,810 shares of the conglomerate’s stock worth $1,059,000 after buying an additional 231 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Danaher by 5.3% during the third quarter. Brooklyn Investment Group now owns 4,911 shares of the conglomerate’s stock worth $1,365,000 after acquiring an additional 249 shares during the period. D.A. Davidson & CO. raised its holdings in Danaher by 2.6% during the third quarter. D.A. Davidson & CO. now owns 13,294 shares of the conglomerate’s stock worth $3,696,000 after purchasing an additional 343 shares in the last quarter. FMR LLC lifted its position in Danaher by 15.8% in the third quarter. FMR LLC now owns 23,617,424 shares of the conglomerate’s stock valued at $6,566,116,000 after purchasing an additional 3,217,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in Danaher by 4.0% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 51,913 shares of the conglomerate’s stock valued at $14,433,000 after purchasing an additional 2,000 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DHR. Royal Bank of Canada cut their target price on Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 target price on the stock in a research report on Thursday, October 31st. Stephens reiterated an “overweight” rating and issued a $315.00 price target on shares of Danaher in a report on Wednesday, October 23rd. Finally, UBS Group decreased their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a report 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. According to data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $287.16.

Danaher Stock Performance

Shares of DHR opened at $236.53 on Wednesday. The company’s 50 day simple moving average is $256.66 and its 200 day simple moving average is $259.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The company has a market capitalization of $170.84 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 4.37 and a beta of 0.85. Danaher Co. has a 1 year low of $215.68 and a 1 year high of $281.70.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating the consensus estimate of $1.57 by $0.14. The firm 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%. The business’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 earnings per share. On average, sell-side analysts predict that Danaher Co. will post 7.5 EPS for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio (DPR) is 20.61%.

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.