Arvest Bank Trust Division has acquired a new stake in Danaher Corporation, investing approximately $207,000 in the conglomerate during the second quarter of 2023. According to a recent Form 13F filing with the Securities and Exchange Commission (SEC), the bank purchased 1,049 shares of Danaher (NYSE:DHR), marking a significant move amid ongoing interest from institutional investors in the company’s stock.
Several other financial entities have also modified their positions in Danaher. For instance, Red Tortoise LLC increased its stake by an impressive 175.0%, now holding 154 shares valued at $30,000 after acquiring an additional 98 shares. Ramirez Asset Management Inc. purchased a new stake worth approximately $40,000, while Costello Asset Management Inc. added about $41,000 to its holdings in the first quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings by 53.8%, now owning 203 shares valued at $42,000, after acquiring an additional 71 shares during the last quarter. Furthermore, Strengthening Families & Communities LLC lifted its position by 81.4%, owning 254 shares valued at $52,000 after purchasing an extra 114 shares.
The latest data indicates that institutional investors and hedge funds collectively own 79.05% of Danaher’s stock. As of the market opening on Friday, Danaher shares traded at $221.25, with a 50-day moving average of $205.63 and a 200-day moving average of $201.09. The company boasts a market capitalization of $156.28 billion, a price-to-earnings (P/E) ratio of 45.62, and a debt-to-equity ratio of 0.33. Over the past year, Danaher has seen its shares reach a low of $171.00 and a high of $258.23.
Danaher recently reported its quarterly earnings on October 20, 2023, revealing earnings per share (EPS) of $1.89, surpassing analysts’ expectations of $1.72 by $0.17. The company recorded $6.05 billion in revenue for the quarter, exceeding estimates of $6 billion and reflecting a year-over-year revenue increase of 4.4%. Analysts project that Danaher Corporation will achieve an EPS of $7.63 for the current fiscal year.
In addition to its financial performance, Danaher has declared a quarterly dividend of $0.32 per share, which was paid on October 31, 2023. Investors who were on record as of September 26, 2023 received this dividend, indicating a 0.6% yield based on an annualized dividend of $1.28. The company’s payout ratio currently stands at 26.39%.
Analysts have weighed in on Danaher’s stock, with several firms adjusting their price targets. TD Cowen raised its target from $250.00 to $260.00, maintaining a “buy” rating. In contrast, Weiss Ratings reissued a “hold (c-)” rating. Guggenheim has also reaffirmed a “buy” rating with a target of $250.00, while Evercore ISI adjusted its target from $226.00 to $245.00. Robert W. Baird set its price target at $247.00. Overall, 18 analysts have rated Danaher as a “buy,” while five have issued a “hold” rating, leading to an average rating of “Moderate Buy” with a price target of $243.39.
In recent insider transactions, SVP Brian W. Ellis sold 21,776 shares at an average price of $219.23, totaling nearly $4.77 million. Following the sale, his ownership decreased by 59.94%. Another insider, SVP Georgeann Couchara, also sold 5,174 shares for approximately $1.09 million, marking a 66.34% decline in her ownership. In total, insiders have sold 29,728 shares valued at about $6.45 million over the last three months, with company insiders holding 11.20% of the stock.
Danaher Corporation specializes in designing, manufacturing, and marketing a diverse range of professional, medical, industrial, and commercial products and services globally. The company’s Biotechnology segment focuses on advancing the development and manufacture of therapeutics through various technologies and services.
