Danaher Co. (NYSE:DHR) Stock Holdings Raised by SouthState Corp

SouthState Corp raised its stake in shares of Danaher Co. (NYSE:DHR) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,890 shares of the conglomerate’s stock after acquiring an additional 1,457 shares during the quarter. Danaher makes up about 1.9% of SouthState Corp’s portfolio, making the stock its 9th biggest position. SouthState Corp’s holdings in Danaher were worth $28,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Danaher in the second quarter valued at approximately $25,000. nVerses Capital LLC acquired a new stake in shares of Danaher in the second quarter valued at $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Danaher in the third quarter valued at $40,000. MFA Wealth Advisors LLC acquired a new stake in shares of Danaher during the second quarter worth about $51,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Danaher during the second quarter worth about $51,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

DHR stock opened at $229.50 on Tuesday. The stock’s 50 day simple moving average is $261.33 and its 200 day simple moving average is $260.45. The stock has a market capitalization of $165.76 billion, a PE ratio of 43.80, a price-to-earnings-growth ratio of 4.24 and a beta of 0.85. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Danaher Co. has a 12-month low of $207.63 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating the consensus estimate of $1.57 by $0.14. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. As a group, research analysts forecast that Danaher Co. will post 7.51 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio is currently 20.61%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DHR. Robert W. Baird lowered their price objective on Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group decreased their price target on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a research note on Monday. Finally, TD Cowen upped their target price on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.16.

Insider Transactions at Danaher

In related news, SVP Georgeann Couchara sold 952 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 18.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.90% of the company’s stock.

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.