Kornitzer Capital Management Inc. KS Grows Stake in Danaher Corporation $DHR

Kornitzer Capital Management Inc. KS increased its stake in Danaher Corporation (NYSE:DHR) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,306 shares of the conglomerate’s stock after acquiring an additional 3,575 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Danaher were worth $3,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DHR. JPL Wealth Management LLC purchased a new position in Danaher in the third quarter worth about $25,000. Elevated Capital Advisors LLC purchased a new position in Danaher in the fourth quarter worth about $26,000. WFA of San Diego LLC purchased a new position in Danaher in the second quarter worth about $26,000. ANTIPODES PARTNERS Ltd purchased a new position in Danaher in the third quarter worth about $27,000. Finally, TruNorth Capital Management LLC purchased a new position in Danaher in the third quarter worth about $28,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DHR shares. Wall Street Zen lowered Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. TD Cowen dropped their target price on Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Danaher in a research report on Thursday, January 29th. Evercore boosted their target price on Danaher from $225.00 to $232.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, KeyCorp restated an “overweight” rating on shares of Danaher in a research report on Thursday, January 29th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $240.70.

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 value 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 $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.80% of the stock is owned by company insiders.

Danaher Stock Down 2.0%

Shares of NYSE DHR opened at $175.30 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.34 and a beta of 0.81. The stock has a 50 day moving average price of $193.34 and a 200 day moving average price of $213.20. Danaher Corporation has a 52-week low of $174.60 and a 52-week high of $242.80.

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

Danaher Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, March 27th were issued a $0.40 dividend. The ex-dividend date was Friday, March 27th. This is a positive change from Danaher’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Danaher’s dividend payout ratio (DPR) is presently 30.95%.

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.