SVB Wealth LLC has acquired a significant stake in Danaher Corporation, investing approximately $4.73 million in the second quarter of 2023. This investment involved the purchase of 23,920 shares of the multinational conglomerate, according to the firm’s recent Form 13F filing with the Securities and Exchange Commission.
This acquisition reflects a broader trend among institutional investors modifying their positions in Danaher. Notably, Ceredex Value Advisors LLC increased its holdings by 1.6%, now owning 249,377 shares valued at $49.26 million after acquiring an additional 3,862 shares. Similarly, Chicago Capital LLC raised its stake by 11.6%, bringing its total to 13,332 shares, worth $2.63 million. Weitz Investment Management Inc. also expanded its position by 6.1%, holding 526,950 shares now valued at $104.09 million.
In total, institutional investors own 79.05% of Danaher’s stock.
Analysts Provide Positive Outlook
Recent reports from several brokerages have expressed optimism regarding Danaher’s stock performance. Barclays raised its price target from $225.00 to $250.00 and assigned an “overweight” rating. Similarly, Deutsche Bank Aktiengesellschaft increased its price target to $250.00 and maintained a “buy” rating. Evercore ISI also upgraded its target to $245.00, indicating strong confidence in Danaher’s market position.
MarketBeat.com data reveals that twenty analysts have rated Danaher with a “buy” recommendation, while five have issued a “hold” rating, resulting in an average price target of $245.75.
As of the market opening on Monday, October 23, 2023, Danaher’s shares were down 0.4%, trading at $226.20. The stock has experienced a 52-week range between $171.00 and $258.23, and it currently holds a market capitalization of $159.78 billion.
Financial Performance and Dividend Announcement
Danaher Corporation recently reported its quarterly earnings on October 20, 2023. The company announced earnings per share (EPS) of $1.89, surpassing analyst expectations of $1.72 by $0.17. The firm generated revenue of $6.05 billion, exceeding forecasts of $6 billion, marking a 4.4% increase compared to the same quarter last year.
In addition to its positive earnings report, Danaher declared a quarterly dividend of $0.32 per share, payable on October 31, 2023, to stockholders of record as of September 26, 2023. This dividend represents an annualized payout of $1.28 and a yield of 0.6%.
Danaher’s financial stability is evidenced by a quick ratio of 1.10, a current ratio of 1.52, and a debt-to-equity ratio of 0.33.
Insider Trading Activity
In related news, several insiders at Danaher have engaged in stock transactions. Senior Vice President Brian W. Ellis sold 21,776 shares on November 12, 2023, at an average price of $219.23, totaling approximately $4.77 million. Following this sale, Ellis retained 14,553 shares valued at about $3.19 million.
Another notable transaction involved SVP Georgeann Couchara, who sold 5,174 shares on November 10, 2023, for a total of $1.09 million at an average price of $210.42. After this transaction, Couchara holds 2,625 shares valued at around $552,352.50.
These transactions indicate that insiders have sold a total of 30,248 shares worth approximately $6.61 million over the past 90 days, and insiders currently own 11.20% of Danaher’s stock.
Danaher Corporation continues to position itself as a leader in the design and manufacture of professional, medical, industrial, and commercial products globally, showcasing stability and growth potential in its financial activities.
