Procyon Advisors LLC Purchases 550 Shares of Danaher Co. (NYSE:DHR)

Procyon Advisors LLC increased its position in Danaher Co. (NYSE:DHR) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,211 shares of the conglomerate’s stock after purchasing an additional 550 shares during the period. Procyon Advisors LLC’s holdings in Danaher were worth $1,885,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Coronation Fund Managers Ltd. raised its stake in shares of Danaher by 29.9% in the second quarter. Coronation Fund Managers Ltd. now owns 6,389 shares of the conglomerate’s stock worth $1,596,000 after purchasing an additional 1,470 shares during the last quarter. Moors & Cabot Inc. raised its position in Danaher by 14.0% in the 2nd quarter. Moors & Cabot Inc. now owns 2,540 shares of the conglomerate’s stock valued at $635,000 after buying an additional 311 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Danaher by 31.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 56,282 shares of the conglomerate’s stock valued at $14,062,000 after acquiring an additional 13,576 shares in the last quarter. Ieq Capital LLC boosted its holdings in Danaher by 16.5% during the 2nd quarter. Ieq Capital LLC now owns 35,628 shares of the conglomerate’s stock worth $8,902,000 after acquiring an additional 5,034 shares during the last quarter. Finally, Trust Investment Advisors grew its stake in shares of Danaher by 2.7% in the 2nd quarter. Trust Investment Advisors now owns 2,881 shares of the conglomerate’s stock worth $720,000 after acquiring an additional 76 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Bank of America upgraded Danaher from a “neutral” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Friday, December 13th. Barclays decreased their price target on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, KeyCorp lifted their target price on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.80.

Danaher Price Performance

Shares of NYSE DHR opened at $238.41 on Friday. 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 fifty-two week low of $222.53 and a fifty-two week high of $281.70. The stock has a market cap of $172.20 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 4.23 and a beta of 0.83. The stock has a fifty day moving average of $234.99 and a 200-day moving average of $253.37.

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

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s dividend payout ratio is presently 20.61%.

Danaher Company Profile

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.