Danaher Co. (NYSE:DHR) Shares Bought by Eastern Bank

Eastern Bank increased its holdings in Danaher Co. (NYSE:DHR) by 2,884.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,136 shares of the conglomerate’s stock after purchasing an additional 101,613 shares during the quarter. Eastern Bank’s holdings in Danaher were worth $29,230,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Tsfg LLC grew its position in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new position in Danaher in the second quarter worth approximately $25,000. nVerses Capital LLC purchased a new position in Danaher in the second quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in Danaher in the first quarter worth approximately $30,000. Finally, MFA Wealth Advisors LLC purchased a new position in Danaher in the second quarter worth approximately $51,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

Shares of DHR traded down $8.68 during midday trading on Tuesday, reaching $263.41. 2,253,191 shares of the stock were exchanged, compared to its average volume of 2,713,694. The business’s 50-day moving average price is $270.82 and its 200 day moving average price is $260.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04. Danaher Co. has a twelve month low of $182.09 and a twelve month high of $281.70. The company has a market capitalization of $195.10 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 4.49 and a beta of 0.83.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the company posted $2.05 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that Danaher Co. will post 7.59 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s dividend payout ratio is presently 18.31%.

Insider Transactions at Danaher

In related news, SVP Brian W. Ellis sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the sale, the senior vice president now owns 20,230 shares in the company, valued at $5,566,486.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Brian W. Ellis sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the sale, the senior vice president now owns 20,230 shares of the company’s stock, valued at approximately $5,566,486.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rainer Blair sold 9,007 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the transaction, the chief executive officer now directly owns 97,983 shares in the company, valued at approximately $27,435,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,659 shares of company stock valued at $11,042,433 in the last quarter. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DHR. Barclays increased their price objective on Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company began coverage on Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target for the company. The Goldman Sachs Group raised their price target on Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Stifel Nicolaus raised their price target on Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $282.12.

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.