Cinctive Capital Management LP Purchases New Holdings in Danaher Co. (NYSE:DHR)

Cinctive Capital Management LP acquired a new position in Danaher Co. (NYSE:DHR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,685 shares of the conglomerate’s stock, valued at approximately $7,697,000.

A number of other hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Danaher during the 2nd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Danaher during the second quarter worth $25,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Danaher during the third quarter valued at $39,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Danaher in the 3rd quarter valued at $40,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Danaher in the 3rd quarter worth about $50,000. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DHR. Wolfe Research upgraded shares of 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. KeyCorp raised their price target on Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays reduced their price objective on Danaher from $285.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised their target price on Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Raymond James reduced their price target on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.16.

Danaher Stock Performance

DHR stock opened at $239.69 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. Danaher Co. has a twelve month low of $215.68 and a twelve month high of $281.70. The business’s fifty day moving average is $254.59 and its 200-day moving average is $259.41. The company has a market cap of $173.12 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 4.41 and a beta of 0.85.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. The firm had revenue of $5.80 billion for 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 company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Equities research analysts forecast that Danaher Co. will post 7.5 EPS for the current year.

Danaher Dividend Announcement

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. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 27th. Danaher’s dividend payout ratio is 20.61%.

About Danaher

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.