Cove Private Wealth LLC Takes Position in Danaher Co. (NYSE:DHR)

Cove Private Wealth LLC acquired a new position in shares of Danaher Co. (NYSE:DHR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,000 shares of the conglomerate’s stock, valued at approximately $459,000.

Several other large investors have also added to or reduced their stakes in DHR. FMR LLC lifted its holdings in shares of Danaher by 15.8% in the third quarter. FMR LLC now owns 23,617,424 shares of the conglomerate’s stock worth $6,566,116,000 after buying an additional 3,217,631 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Danaher by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,582,982 shares of the conglomerate’s stock worth $996,141,000 after purchasing an additional 535,254 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Danaher by 40,196.5% in the 3rd quarter. International Assets Investment Management LLC now owns 429,964 shares of the conglomerate’s stock valued at $119,539,000 after purchasing an additional 428,897 shares during the period. Montrusco Bolton Investments Inc. grew its position in shares of Danaher by 30.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,705,884 shares of the conglomerate’s stock valued at $465,617,000 after purchasing an additional 397,671 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Danaher by 82.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 653,375 shares of the conglomerate’s stock worth $181,651,000 after purchasing an additional 295,187 shares during the period. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DHR shares. Bank of America upgraded Danaher from a “neutral” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Friday, December 13th. Royal Bank of Canada cut their price objective on Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, December 14th. Stephens reissued an “overweight” rating and issued a $315.00 price target on shares of Danaher in a report on Wednesday, October 23rd. Finally, UBS Group dropped their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.80.

Danaher Stock Down 1.4 %

Shares of Danaher stock opened at $238.41 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. Danaher Co. has a 52-week low of $222.53 and a 52-week high of $281.70. The company’s 50 day moving average price is $234.85 and its 200-day moving average price is $253.42. The stock has a market capitalization of $172.20 billion, a price-to-earnings ratio of 45.50, a P/E/G ratio of 4.23 and a beta of 0.83.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. Equities research analysts forecast that Danaher Co. will post 7.49 EPS for the current year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, December 27th. Danaher’s 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.