Byrne Asset Management LLC Purchases 3,451 Shares of Danaher Corporation $DHR

Byrne Asset Management LLC raised its position in Danaher Corporation (NYSE:DHR) by 9,327.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,488 shares of the conglomerate’s stock after acquiring an additional 3,451 shares during the period. Byrne Asset Management LLC’s holdings in Danaher were worth $773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DHR. Main Street Group LTD acquired a new stake in Danaher in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Danaher during the 2nd quarter worth approximately $25,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher in the 4th quarter valued at approximately $27,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock valued at $29,000 after buying an additional 53 shares in the last quarter. Finally, Evolution Wealth Management Inc. grew its holdings in Danaher by 208.0% during the first quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate’s stock worth $29,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Shares of Danaher stock traded down $3.48 during trading on Tuesday, hitting $217.73. 1,774,393 shares of the company were exchanged, compared to its average volume of 4,452,227. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $153.06 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 2.67 and a beta of 0.76. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The firm has a 50 day moving average price of $209.69 and a 200 day moving average price of $193.88.

Danaher (NYSE:DHR) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Danaher’s dividend payout ratio is currently 28.42%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Guggenheim boosted their target price on shares of Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus decreased their price objective on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. UBS Group initiated coverage on shares of Danaher in a report on Wednesday, September 9th. They issued a “buy” rating and a $250.00 target price for the company. The Goldman Sachs Group boosted their price target on Danaher from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Finally, Royal Bank Of Canada raised their price objective on Danaher from $215.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.09.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.