King Wealth Management Group Makes New Investment in Danaher Co. (NYSE:DHR)

King Wealth Management Group bought a new stake in shares of Danaher Co. (NYSE:DHR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 785 shares of the conglomerate’s stock, valued at approximately $218,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Danaher by 7.4% during the first quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock valued at $15,009,928,000 after purchasing an additional 4,163,657 shares during the period. Legal & General Group Plc lifted its position in shares of Danaher by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 5,964,031 shares of the conglomerate’s stock valued at $1,490,112,000 after buying an additional 139,989 shares during the last quarter. Capital Research Global Investors increased its holdings in Danaher by 1.0% in the 1st quarter. Capital Research Global Investors now owns 5,125,470 shares of the conglomerate’s stock worth $1,279,932,000 after acquiring an additional 52,679 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Danaher by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,398,649 shares of the conglomerate’s stock valued at $849,195,000 after acquiring an additional 85,081 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Danaher by 22.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,047,728 shares of the conglomerate’s stock worth $761,475,000 after purchasing an additional 563,546 shares during the period. Institutional investors own 79.05% of the company’s stock.

Insider Activity

In related news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. This trade represents a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 11.10% of the company’s stock.

Danaher Price Performance

DHR stock opened at $239.45 on Friday. The firm has a 50 day moving average price of $263.42 and a 200-day moving average price of $260.64. The firm has a market capitalization of $172.95 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 4.44 and a beta of 0.85. Danaher Co. has a 52-week low of $204.15 and a 52-week high of $281.70. 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 (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. Danaher’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 EPS. Equities research analysts forecast that Danaher Co. will post 7.51 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on DHR shares. The Goldman Sachs Group increased their target price on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Bank of America upped their target price on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Leerink Partners increased their target price on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Raymond James decreased their price objective on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.16.

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.