Shorepath Capital Management LLC Invests $6.03 Million in Danaher Co. (NYSE:DHR)

Shorepath Capital Management LLC acquired a new stake in shares of Danaher Co. (NYSE:DHR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,081 shares of the conglomerate’s stock, valued at approximately $6,034,000. Danaher makes up about 5.4% of Shorepath Capital Management LLC’s holdings, making the stock its 10th largest holding.

A number of other hedge funds also recently bought and sold shares of DHR. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Danaher by 20.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after purchasing an additional 1,533 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Danaher by 0.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock worth $6,156,000 after acquiring an additional 149 shares during the last quarter. Cercano Management LLC increased its position in shares of Danaher by 11.4% in the fourth quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after acquiring an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Danaher by 48.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after acquiring an additional 96,395 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Danaher by 4.8% in the third quarter. Parkside Financial Bank & Trust now owns 3,080 shares of the conglomerate’s stock worth $764,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DHR. Citigroup increased their price objective on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. HSBC raised Danaher from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $280.00 in a research note on Wednesday, April 17th. TD Cowen boosted their price objective on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their target price on shares of Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Barclays boosted their price target on shares of Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.29.

Insider Activity at Danaher

In other Danaher news, SVP Brian W. Ellis sold 4,000 shares of Danaher stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $250.01, for a total value of $1,000,040.00. Following the completion of the sale, the senior vice president now owns 29,830 shares of the company’s stock, valued at approximately $7,457,798.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Rainer Blair sold 47,175 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the transaction, the chief executive officer now owns 115,995 shares in the company, valued at $28,908,273.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian W. Ellis sold 4,000 shares of Danaher stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $250.01, for a total transaction of $1,000,040.00. Following the completion of the sale, the senior vice president now directly owns 29,830 shares of the company’s stock, valued at approximately $7,457,798.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,783 shares of company stock valued at $37,536,717. 11.10% of the stock is owned by corporate insiders.

Danaher Stock Down 0.1 %

Danaher stock traded down $0.16 during mid-day trading on Friday, hitting $254.85. The company had a trading volume of 3,097,194 shares, compared to its average volume of 2,930,997. Danaher Co. has a 12 month low of $182.09 and a 12 month high of $269.11. 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 stock’s 50 day moving average price is $253.48 and its two-hundred day moving average price is $244.30. The company has a market capitalization of $188.76 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 3.90 and a beta of 0.85.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.43%. Danaher’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.36 EPS. As a group, sell-side analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.42%. Danaher’s payout ratio is currently 18.31%.

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.