Danaher Co. (NYSE:DHR) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Danaher Co. (NYSE:DHR) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,363 shares of the conglomerate’s stock after purchasing an additional 6,086 shares during the period. CIBC Asset Management Inc’s holdings in Danaher were worth $56,780,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DHR. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Danaher during the 2nd quarter worth $25,000. nVerses Capital LLC bought a new stake in Danaher during the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Danaher in the second quarter valued at about $51,000. Financial Connections Group Inc. bought a new position in shares of Danaher in the second quarter worth about $51,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Danaher during the 1st quarter worth about $55,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,130,374.44. This represents a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by corporate insiders.

Danaher Price Performance

Shares of DHR stock opened at $239.45 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The stock’s fifty day simple moving average is $263.42 and its 200 day simple moving average is $260.64. Danaher Co. has a one year low of $204.15 and a one year high of $281.70. The firm has a market cap of $172.95 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 4.44 and a beta of 0.85.

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

Danaher Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

Analyst Ratings Changes

Several research analysts have commented on DHR shares. Wolfe Research raised Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target on the stock in a research report on Thursday, October 31st. Bank of America boosted their target price on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. TD Cowen increased their price target on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Raymond James dropped their price objective on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, 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 objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $287.16.

Danaher Company 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.