Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Danaher Co. (NYSE:DHR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Danaher Co. (NYSE:DHR) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 301,039 shares of the conglomerate’s stock after purchasing an additional 3,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Danaher were worth $83,695,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Danaher during the second quarter worth $25,000. nVerses Capital LLC purchased a new stake in Danaher during the 2nd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Danaher in the 3rd quarter valued at about $40,000. MFA Wealth Advisors LLC purchased a new position in Danaher in the 2nd quarter worth approximately $51,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Danaher during the 2nd quarter worth approximately $51,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp lifted their price objective on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on Danaher from $333.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price target 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. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Danaher has an average rating of “Moderate Buy” and a consensus price target of $287.16.

Danaher Stock Performance

Shares of Danaher stock opened at $238.90 on Thursday. The stock has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 4.37 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 $256.00 and a 200 day moving average of $259.66. Danaher Co. has a 12 month low of $215.68 and a 12 month high of $281.70.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the firm posted $2.02 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Danaher Co. will post 7.5 earnings per share for the current year.

Danaher Dividend Announcement

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

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.