Redmont Wealth Advisors LLC Makes New $30,000 Investment in Danaher Co. (NYSE:DHR)

Redmont Wealth Advisors LLC purchased a new position in shares of Danaher Co. (NYSE:DHR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 120 shares of the conglomerate’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its position in Danaher by 20.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock worth $2,112,000 after acquiring an additional 1,533 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Danaher by 0.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock worth $6,156,000 after acquiring an additional 149 shares in the last quarter. Cercano Management LLC raised its position in Danaher by 11.4% during the fourth quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock worth $46,862,000 after acquiring an additional 20,715 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Danaher by 48.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after purchasing an additional 96,395 shares during the period. Finally, Caden Capital Partners LP raised its position in shares of Danaher by 12.4% in the fourth quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock valued at $32,172,000 after purchasing an additional 15,313 shares during the period. 79.05% of the stock is owned by institutional investors.

Danaher Trading Down 0.1 %

Shares of Danaher stock opened at $240.21 on Thursday. The company has a market capitalization of $177.92 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 3.68 and a beta of 0.83. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $269.11. The firm’s 50-day moving average price is $255.88 and its two-hundred day moving average price is $246.95.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the prior year, the company posted $2.36 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts forecast that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.27 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.45%. Danaher’s payout ratio is currently 18.31%.

Insider Activity

In other news, CEO Rainer Blair sold 47,175 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total value of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at approximately $28,908,273.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Rainer Blair sold 47,175 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total value of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at approximately $28,908,273.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew Mcgrew sold 46,377 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $253.05, for a total transaction of $11,735,699.85. Following the completion of the sale, the chief financial officer now owns 29,407 shares in the company, valued at $7,441,441.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,783 shares of company stock worth $37,536,717. Corporate insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

DHR has been the topic of several research analyst reports. Barclays increased their price objective on shares of Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Robert W. Baird increased their price objective on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on shares of Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price objective on the stock. Citigroup increased their price objective on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, TD Cowen increased their price objective on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.67.

About Danaher

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.