SVB Wealth LLC has established a new investment position in Danaher Corporation, acquiring 23,920 shares valued at approximately $4.73 million. This investment was disclosed in the company’s recent Form 13F filing with the Securities and Exchange Commission for the second quarter of 2023.
Other institutional investors have also adjusted their stakes in Danaher, a leading global science and technology company. For instance, Ceredex Value Advisors LLC increased its holdings by 1.6%, now owning 249,377 shares worth $49.26 million after acquiring an additional 3,862 shares. Chicago Capital LLC raised its position by 11.6% during the same quarter, bringing its total to 13,332 shares valued at $2.63 million. Similarly, Weitz Investment Management Inc. grew its stake by 6.1%, now holding 526,950 shares worth $104.09 million.
As of now, 79.05% of Danaher’s stock is owned by institutional investors.
Analyst Ratings and Stock Performance
Recent analyses from various brokerages have resulted in positive adjustments to Danaher’s stock ratings. On October 22, Barclays raised its price target from $225 to $250, giving the company an “overweight” rating. Deutsche Bank Aktiengesellschaft similarly increased its target from $235 to $250 and assigned a “buy” rating. Evercore ISI also elevated its price target from $226 to $245 with an “outperform” rating.
According to data from MarketBeat.com, Danaher has received an average rating of “Moderate Buy” from analysts, with a consensus price target of $245.75. Currently, 20 analysts have rated the stock as a Buy and five have issued Hold ratings.
As of the opening on Monday, Danaher shares were priced at $226.20, reflecting a slight decrease of 0.4%. The company’s fifty-day simple moving average stands at $216.22, while the 200-day average is $204.48. Over the past year, Danaher’s stock has fluctuated, hitting a low of $171.00 and a high of $258.23.
Financial Performance and Dividends
Danaher Corporation recently reported its quarterly earnings, revealing $1.89 earnings per share (EPS), exceeding analysts’ expectations of $1.72 by $0.17. The company achieved revenue of $6.05 billion for the quarter, surpassing projections of $6 billion. Compared to the same period last year, revenue rose by 4.4%, with the previous year’s EPS at $1.71. Analysts anticipate Danaher will post an EPS of $7.63 for the current fiscal year.
In addition to its strong earnings performance, Danaher announced a quarterly dividend of $0.32 per share, which was paid on October 31, 2023. Shareholders of record on September 26 received this dividend, which translates to an annualized amount of $1.28 and a yield of 0.6%. The company maintains a dividend payout ratio of 26.39%.
Insider Transactions
Recent insider trading activities at Danaher have also drawn attention. Senior Vice President Brian W. Ellis sold 21,776 shares on November 12 at an average price of $219.23, generating a total of approximately $4.77 million. Following this transaction, Ellis retained 14,553 shares valued at around $3.19 million, marking a decrease of 59.94% in his holdings.
Additionally, Senior Vice President Georgeann Couchara sold 5,174 shares on November 10 for about $1.09 million, reducing her ownership by 66.34%. Over the past 90 days, insiders have sold a total of 30,248 shares worth approximately $6.61 million, and insiders currently hold 11.20% of the company’s stock.
Danaher Corporation, headquartered in Washington, D.C., designs, manufactures, and markets a wide range of professional, medical, industrial, and commercial products and services globally. The company operates in various segments, including biotechnology, where it offers advanced technologies and solutions to enhance the development and manufacturing of therapeutics.
