Castle Rock Wealth Management LLC Makes New Investment in Danaher Corporation $DHR

Castle Rock Wealth Management LLC acquired a new stake in shares of Danaher Corporation (NYSE:DHR) during the third quarter, HoldingsChannel reports. The firm acquired 25,809 shares of the conglomerate’s stock, valued at approximately $5,718,000. Danaher accounts for approximately 1.1% of Castle Rock Wealth Management LLC’s portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DHR. EP Wealth Advisors LLC bought a new position in shares of Danaher in the second quarter valued at approximately $3,807,000. Puzo Michael J bought a new stake in Danaher during the second quarter worth approximately $8,624,000. Madison Asset Management LLC bought a new stake in Danaher during the second quarter worth approximately $85,451,000. First Nebraska Trust Co acquired a new stake in Danaher in the second quarter worth approximately $14,106,000. Finally, Colton Groome Financial Advisors LLC bought a new position in Danaher during the 3rd quarter valued at $592,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen lowered their price target on Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Wells Fargo & Company dropped their price target on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $240.00 price objective on shares of Danaher in a research report on Wednesday, July 22nd. Barclays boosted their target price on shares of Danaher from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Guggenheim raised their target price on shares of Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.23.

Danaher Trading Up 1.2%

DHR stock traded up $2.69 during mid-day trading on Friday, reaching $220.15. 3,934,329 shares of the stock traded hands, compared to its average volume of 4,457,726. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The stock’s fifty day moving average is $210.88 and its 200-day moving average is $194.44. The company has a market cap of $154.76 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.72 and a beta of 0.76. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher’s dividend payout ratio (DPR) is presently 28.42%.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.