Skye Global Management LP Buys 9,200 Shares of Danaher Co. (NYSE:DHR)

Skye Global Management LP increased its stake in shares of Danaher Co. (NYSE:DHR) by 6.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 142,000 shares of the conglomerate’s stock after purchasing an additional 9,200 shares during the period. Danaher accounts for 1.0% of Skye Global Management LP’s investment portfolio, making the stock its 15th largest position. Skye Global Management LP’s holdings in Danaher were worth $39,479,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Danaher during the 2nd quarter worth approximately $25,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Danaher during the second quarter worth about $25,000. Teachers Insurance & Annuity Association of America bought a new position in Danaher in the 3rd quarter worth about $39,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Danaher in the 3rd quarter valued at about $40,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Danaher during the third quarter worth about $55,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Stock Up 1.0 %

NYSE:DHR opened at $238.83 on Friday. 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 firm’s 50-day moving average price is $255.25 and its 200-day moving average price is $259.52. The company has a market capitalization of $172.50 billion, a PE ratio of 45.58, a P/E/G ratio of 4.39 and a beta of 0.85. Danaher Co. has a 1-year low of $215.68 and a 1-year high of $281.70.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Announces Dividend

The business 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 was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.45%. Danaher’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

DHR has been the subject of several research analyst reports. Barclays dropped their target price on shares of Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Raymond James reduced their target price on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group reduced their price objective on Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on Danaher in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 target price for the company. Finally, Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.