Canandaigua National Bank & Trust Co. Buys 35,886 Shares of Danaher Corporation $DHR

Canandaigua National Bank & Trust Co. increased its stake in shares of Danaher Corporation (NYSE:DHR) by 372.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,514 shares of the conglomerate’s stock after acquiring an additional 35,886 shares during the quarter. Danaher comprises about 0.9% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 24th largest position. Canandaigua National Bank & Trust Co.’s holdings in Danaher were worth $10,084,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Exchange Bank acquired a new position in Danaher during the 3rd quarter worth $207,000. Bath Savings Trust Co increased its stake in shares of Danaher by 2.5% in the 3rd quarter. Bath Savings Trust Co now owns 50,609 shares of the conglomerate’s stock valued at $10,466,000 after buying an additional 1,234 shares during the period. Investors Research Corp raised its position in shares of Danaher by 189.8% during the third quarter. Investors Research Corp now owns 8,143 shares of the conglomerate’s stock worth $1,804,000 after acquiring an additional 5,333 shares during the last quarter. Benedict Financial Advisors Inc. bought a new stake in shares of Danaher during the third quarter worth $4,579,000. Finally, PFW Advisors LLC acquired a new position in shares of Danaher during the third quarter valued at $1,305,000. Institutional investors own 79.05% of the company’s stock.

Danaher Trading Up 1.5%

Shares of DHR stock traded up $3.24 on Wednesday, hitting $218.85. The stock had a trading volume of 3,974,091 shares, compared to its average volume of 4,460,003. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The firm has a market cap of $153.85 billion, a P/E ratio of 38.87, a PEG ratio of 2.75 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. The company has a fifty day moving average price of $210.01 and a two-hundred day moving average price of $194.05.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore reiterated an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their price target on shares of Danaher from $215.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of Danaher from $210.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 21st. Finally, Guggenheim raised their price objective on shares of Danaher from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.23.

About Danaher

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.