Synovus Financial Corp Decreases Stock Holdings in Danaher Co. (NYSE:DHR)

Synovus Financial Corp decreased its position in Danaher Co. (NYSE:DHR) by 7.3% during the third quarter, Holdings Channel.com reports. The fund owned 73,846 shares of the conglomerate’s stock after selling 5,808 shares during the quarter. Synovus Financial Corp’s holdings in Danaher were worth $20,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Danaher during the 2nd quarter valued at approximately $25,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Danaher during the second quarter valued at approximately $25,000. Teachers Insurance & Annuity Association of America bought a new stake in Danaher in the third quarter valued at $39,000. MidAtlantic Capital Management Inc. purchased a new position in Danaher during the 3rd quarter valued at $40,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Danaher in the 3rd quarter worth about $50,000. 79.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHR. TD Cowen boosted their price target on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company started coverage on Danaher in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price objective for the company. Evercore ISI upped their target price on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. UBS Group dropped their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Raymond James reduced their price objective on Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

Danaher Stock Down 0.4 %

DHR opened at $234.50 on Friday. The firm’s 50 day simple moving average is $247.62 and its two-hundred day simple moving average is $257.62. Danaher Co. has a 1-year low of $219.15 and a 1-year high of $281.70. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $169.37 billion, a PE ratio of 44.75, a PEG ratio of 4.33 and a beta of 0.83.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 earnings per share. As a group, equities analysts forecast that Danaher Co. will post 7.5 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, December 27th. Danaher’s payout ratio is currently 20.61%.

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.