CIBC Asset Management Inc Purchases 6,086 Shares of Danaher Co. (NYSE:DHR)

CIBC Asset Management Inc boosted its position in shares of Danaher Co. (NYSE:DHR) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 204,363 shares of the conglomerate’s stock after buying an additional 6,086 shares during the quarter. CIBC Asset Management Inc’s holdings in Danaher were worth $56,780,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. raised its stake in shares of Danaher by 1.8% during the second quarter. Benjamin Edwards Inc. now owns 2,153 shares of the conglomerate’s stock worth $538,000 after buying an additional 38 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Danaher by 3.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate’s stock valued at $342,000 after purchasing an additional 38 shares during the period. Patrick M Sweeney & Associates Inc. boosted its position in shares of Danaher by 3.4% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,230 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 40 shares during the last quarter. Trust Co of Kansas grew its stake in shares of Danaher by 4.1% during the second quarter. Trust Co of Kansas now owns 1,022 shares of the conglomerate’s stock worth $255,000 after purchasing an additional 40 shares during the period. Finally, Abacus Planning Group Inc. increased its holdings in Danaher by 0.7% in the second quarter. Abacus Planning Group Inc. now owns 5,439 shares of the conglomerate’s stock valued at $1,359,000 after purchasing an additional 40 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DHR. KeyCorp boosted their target price on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Raymond James reduced their price target on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price objective for the company in a research report on Thursday, October 31st. Finally, UBS Group reduced their target price on Danaher from $309.00 to $305.00 and set a “buy” 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $287.16.

Danaher Price Performance

Shares of NYSE DHR opened at $239.45 on Friday. Danaher Co. has a fifty-two week low of $204.15 and a fifty-two week high of $281.70. The stock 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. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The business has a 50-day moving average of $263.42 and a 200-day moving average of $260.64.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.14. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 EPS. As a group, sell-side analysts predict that Danaher Co. will post 7.51 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, September 27th. Danaher’s payout ratio is currently 20.61%.

Insiders Place Their Bets

In other news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction dated 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 directly owns 4,212 shares of the company’s stock, valued at $1,130,374.44. This represents a 18.44 % 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 this link. Company insiders own 11.10% of the company’s stock.

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.