FinArc Investments Inc. Buys New Stake in Danaher Corporation $DHR

FinArc Investments Inc. bought a new stake in shares of Danaher Corporation (NYSE:DHR) during the 1st quarter, Holdings Channel reports. The firm bought 13,420 shares of the conglomerate’s stock, valued at approximately $2,544,000. Danaher comprises approximately 2.4% of FinArc Investments Inc.’s investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Danaher by 1.7% during the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after purchasing an additional 472,608 shares during the period. Capital International Investors raised its stake in shares of Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after purchasing an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Danaher by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock worth $3,656,595,000 after purchasing an additional 1,334,221 shares during the period. Wellington Management Group LLP grew its position in Danaher by 11.2% in the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after buying an additional 1,517,904 shares in the last quarter. Finally, Norges Bank acquired a new position in Danaher during the 4th quarter valued at about $2,177,106,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Down 0.1%

DHR stock opened at $196.29 on Friday. The firm has a market cap of $137.99 billion, a PE ratio of 34.87, a P/E/G ratio of 2.45 and a beta of 0.79. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $187.90 and a 200 day simple moving average of $195.66.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Equities research analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Danaher’s dividend payout ratio (DPR) is currently 28.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $245.00 price target on shares of Danaher in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Danaher from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price on the stock. Rothschild & Co Redburn set a $205.00 target price on Danaher in a research report on Friday, April 17th. Finally, Barclays decreased their price target on Danaher from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Company 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.