Providence Wealth Advisors LLC Purchases New Shares in Danaher Corporation $DHR

Providence Wealth Advisors LLC purchased a new stake in shares of Danaher Corporation (NYSE:DHR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 35,874 shares of the conglomerate’s stock, valued at approximately $8,212,000. Danaher accounts for approximately 5.0% of Providence Wealth Advisors LLC’s portfolio, making the stock its 4th largest position.

A number of other large investors also recently made changes to their positions in DHR. JPL Wealth Management LLC bought a new position in shares of Danaher during the third quarter valued at about $25,000. Elevated Capital Advisors LLC bought a new position in shares of Danaher during the fourth quarter valued at about $26,000. WFA of San Diego LLC bought a new position in shares of Danaher during the second quarter valued at about $26,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Danaher during the third quarter valued at about $27,000. Finally, Financial Life Planners bought a new position in shares of Danaher during the third quarter valued at about $32,000. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on DHR. Evercore lifted their price objective on shares of Danaher from $225.00 to $232.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. UBS Group lowered their price objective on shares of Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a research report on Thursday, January 29th. Barclays lowered their price objective on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Finally, Royal Bank Of Canada began coverage on shares of Danaher in a research report on Thursday, May 14th. They issued an “outperform” rating and a $200.00 price objective on the stock. Nineteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $238.65.

Insider Buying and Selling

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the transaction, the executive vice president owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.80% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $166.97 on Wednesday. The company’s 50 day moving average is $184.97 and its 200-day moving average is $209.60. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The firm has a market cap of $118.18 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 earnings per share. Sell-side analysts predict that Danaher Corporation will post 8.43 earnings per share for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 1.0%. Danaher’s payout ratio is currently 30.95%.

Danaher Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.