Convergence Financial LLC Has $355,000 Position in Danaher Co. (NYSE:DHR)

Convergence Financial LLC lowered its position in Danaher Co. (NYSE:DHR) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,277 shares of the conglomerate’s stock after selling 196 shares during the period. Convergence Financial LLC’s holdings in Danaher were worth $355,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Danaher in the second quarter worth approximately $25,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Danaher during the second quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Danaher during the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC acquired a new position in Danaher during the second quarter valued at approximately $51,000. Finally, Financial Connections Group Inc. acquired a new position in Danaher during the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Down 1.0 %

Shares of NYSE DHR opened at $245.41 on Friday. The stock has a market cap of $181.77 billion, a PE ratio of 41.59, a PEG ratio of 4.49 and a beta of 0.83. The business has a fifty day moving average of $269.52 and a two-hundred day moving average of $260.35. Danaher Co. has a 52-week low of $182.09 and a 52-week high of $281.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.43.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.44%. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus increased their price target on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a report on Wednesday. TD Cowen increased their price objective on Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday. Leerink Partners increased their price objective on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group reduced their price objective on Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company began coverage on Danaher in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.28.

Insider Activity

In other news, CEO Rainer Blair sold 9,007 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 97,983 shares in the company, valued at approximately $27,435,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 97,983 shares in the company, valued at $27,435,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of Danaher stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the completion of the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,059 shares of company stock worth $8,400,897. 11.10% of the stock is owned by corporate insiders.

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.