CIBC Bancorp USA Inc. Makes New Investment in Danaher Corporation $DHR

CIBC Bancorp USA Inc. purchased a new position in shares of Danaher Corporation (NYSE:DHR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 88,168 shares of the conglomerate’s stock, valued at approximately $17,480,000.

Several other large investors also recently modified their holdings of DHR. Forefront Analytics LLC acquired a new stake in Danaher in the third quarter worth $260,000. Centaurus Financial Inc. raised its holdings in shares of Danaher by 13.3% during the third quarter. Centaurus Financial Inc. now owns 25,022 shares of the conglomerate’s stock valued at $4,961,000 after purchasing an additional 2,928 shares during the period. First Affirmative Financial Network raised its holdings in shares of Danaher by 12.3% during the third quarter. First Affirmative Financial Network now owns 4,669 shares of the conglomerate’s stock valued at $926,000 after purchasing an additional 511 shares during the period. Caerus Investment Advisors LLC bought a new position in shares of Danaher during the 3rd quarter worth about $372,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Danaher in the 3rd quarter valued at about $31,728,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Down 0.6%

Danaher stock opened at $190.42 on Friday. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $242.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. The firm’s 50-day simple moving average is $215.31 and its 200 day simple moving average is $214.96. The stock has a market cap of $134.66 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 2.60 and a beta of 0.93.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, beating the consensus estimate of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. During the same quarter last year, the business posted $2.14 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Danaher’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher’s dividend payout ratio (DPR) is 25.40%.

Analyst Ratings Changes

DHR has been the topic of a number of research reports. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a research note on Thursday, January 29th. Wells Fargo & Company raised their price objective on Danaher from $230.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Wall Street Zen upgraded Danaher from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. TD Cowen reaffirmed a “buy” rating on shares of Danaher in a research report on Wednesday, January 7th. Finally, Morgan Stanley started coverage on Danaher in a report on Monday, December 1st. They issued an “overweight” rating and a $270.00 target price on the stock. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Insider Buying and Selling

In related news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the sale, the executive vice president directly owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.10% of the company’s stock.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.