Danaher Co. (NYSE:DHR) Shares Purchased by SouthState Corp

SouthState Corp increased its position in shares of Danaher Co. (NYSE:DHR) by 3.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 94,413 shares of the conglomerate’s stock after purchasing an additional 3,008 shares during the quarter. Danaher comprises about 1.9% of SouthState Corp’s holdings, making the stock its 11th largest position. SouthState Corp’s holdings in Danaher were worth $21,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Danaher by 18.6% during the 3rd quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock worth $6,185,203,000 after buying an additional 3,905,449 shares in the last quarter. Allen Investment Management LLC boosted its stake in shares of Danaher by 1,440.7% in the 3rd quarter. Allen Investment Management LLC now owns 1,100,399 shares of the conglomerate’s stock valued at $273,009,000 after purchasing an additional 1,028,976 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Danaher in the third quarter valued at approximately $178,850,000. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $161,994,000. Finally, Harris Associates L P boosted its position in shares of Danaher by 27.7% in the third quarter. Harris Associates L P now owns 2,963,899 shares of the conglomerate’s stock valued at $735,343,000 after acquiring an additional 642,759 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Shares of DHR traded down $0.05 during trading hours on Thursday, reaching $246.84. 2,732,367 shares of the stock traded hands, compared to its average volume of 2,779,547. The company’s 50-day moving average price is $248.71 and its two-hundred day moving average price is $231.90. Danaher Co. has a 52-week low of $182.09 and a 52-week high of $259.00. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market cap of $182.83 billion, a P/E ratio of 41.85, a price-to-earnings-growth ratio of 3.80 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter last year, the company posted $2.36 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Danaher’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. Danaher’s dividend payout ratio (DPR) is currently 18.31%.

Insider Activity

In other Danaher news, CEO Rainer Blair sold 47,175 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the completion of the sale, the chief executive officer now owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Walter G. Lohr sold 3,289 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $251.15, for a total transaction of $826,032.35. Following the completion of the transaction, the director now directly owns 14,129 shares in the company, valued at $3,548,498.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rainer Blair sold 47,175 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $249.22, for a total value of $11,756,953.50. Following the transaction, the chief executive officer now owns 115,995 shares in the company, valued at approximately $28,908,273.90. The disclosure for this sale can be found here. Insiders have sold 106,565 shares of company stock worth $26,641,364 over the last 90 days. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen increased their target price on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price target on Danaher from $259.00 to $271.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Bank of America boosted their price objective on Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada boosted their price target on Danaher from $254.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Citigroup upped their price target on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $267.31.

Danaher 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.