Profund Advisors LLC raised its position in Danaher Corporation (NYSE:DHR) by 6.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,286 shares of the conglomerate’s stock after acquiring an additional 1,490 shares during the quarter. Profund Advisors LLC’s holdings in Danaher Corporation were worth $2,218,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Choate Investment Advisors increased its position in Danaher Corporation by 12.7% in the second quarter. Choate Investment Advisors now owns 5,312 shares of the conglomerate’s stock worth $448,000 after buying an additional 600 shares in the last quarter. Stevens Capital Management LP grew its position in shares of Danaher Corporation by 86.5% during the second quarter. Stevens Capital Management LP now owns 339,956 shares of the conglomerate’s stock worth $28,689,000 after purchasing an additional 157,708 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Danaher Corporation during the second quarter worth about $692,000. Destination Wealth Management grew its position in shares of Danaher Corporation by 2.5% during the second quarter. Destination Wealth Management now owns 110,438 shares of the conglomerate’s stock worth $9,320,000 after purchasing an additional 2,664 shares in the last quarter. Finally, BlueMountain Capital Management LLC grew its position in shares of Danaher Corporation by 58.3% during the second quarter. BlueMountain Capital Management LLC now owns 22,035 shares of the conglomerate’s stock worth $1,860,000 after purchasing an additional 8,119 shares in the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
Several research firms have weighed in on DHR. Zacks Investment Research lowered Danaher Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub lowered Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Citigroup Inc. set a $96.00 price target on Danaher Corporation and gave the stock a “buy” rating in a research note on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and set a $88.00 price target on shares of Danaher Corporation in a research note on Wednesday, July 12th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $90.00 target price on shares of Danaher Corporation in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.31.
Shares of Danaher Corporation (NYSE DHR) opened at 92.25 on Friday. The stock has a market capitalization of $64.09 billion, a price-to-earnings ratio of 29.44 and a beta of 1.03. Danaher Corporation has a 1-year low of $76.27 and a 1-year high of $92.26. The firm’s 50-day moving average price is $87.12 and its 200 day moving average price is $84.38.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Danaher Corporation had a net margin of 13.36% and a return on equity of 11.29%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Danaher Corporation will post $3.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.61%. Danaher Corporation’s payout ratio is 16.52%.
In other Danaher Corporation news, CFO Daniel L. Comas sold 88,184 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $91.02, for a total value of $8,026,507.68. Following the completion of the sale, the chief financial officer now owns 227,816 shares in the company, valued at approximately $20,735,812.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total transaction of $960,693.96. Following the transaction, the director now owns 104,621 shares in the company, valued at approximately $9,501,679.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,411 shares of company stock valued at $14,431,927. Insiders own 12.20% of the company’s stock.
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About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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