BlueMountain Capital Management LLC raised its stake in shares of Danaher Corporation (NYSE:DHR) by 58.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 22,035 shares of the conglomerate’s stock after purchasing an additional 8,119 shares during the period. BlueMountain Capital Management LLC’s holdings in Danaher Corporation were worth $1,860,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in DHR. Norway Savings Bank lifted its position in shares of Danaher Corporation by 0.4% during the 2nd quarter. Norway Savings Bank now owns 2,238 shares of the conglomerate’s stock worth $189,000 after buying an additional 10 shares in the last quarter. First Financial Corp IN lifted its position in shares of Danaher Corporation by 0.8% during the 2nd quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock worth $230,000 after buying an additional 21 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Danaher Corporation by 0.4% during the 2nd quarter. Brighton Jones LLC now owns 5,159 shares of the conglomerate’s stock worth $435,000 after buying an additional 21 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Danaher Corporation by 1.0% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,356 shares of the conglomerate’s stock worth $202,000 after buying an additional 24 shares in the last quarter. Finally, Buckingham Asset Management LLC lifted its position in shares of Danaher Corporation by 0.4% during the 2nd quarter. Buckingham Asset Management LLC now owns 5,778 shares of the conglomerate’s stock worth $488,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
In related news, CFO Daniel L. Comas sold 88,184 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $20,735,812.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the completion of the sale, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The disclosure for this sale can be found here. Insiders sold 163,411 shares of company stock valued at $14,431,927 over the last quarter. Company insiders own 12.20% of the company’s stock.
A number of equities research analysts recently commented on the stock. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Danaher Corporation in a report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and issued a $90.00 price target on shares of Danaher Corporation in a report on Wednesday, October 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Danaher Corporation in a research note on Friday, August 4th. BidaskClub lowered shares of Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price objective (up from $86.00) on shares of Danaher Corporation in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $93.31.
Danaher Corporation (NYSE:DHR) opened at 92.25 on Friday. The stock’s 50 day moving average is $87.12 and its 200 day moving average is $84.38. The company has a market capitalization of $64.09 billion, a P/E ratio of 29.44 and a beta of 1.03. Danaher Corporation has a 52 week low of $76.27 and a 52 week high of $92.26.
Danaher Corporation (NYSE:DHR) last posted its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Danaher Corporation had a net margin of 13.36% and a return on equity of 11.29%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities research analysts expect that Danaher Corporation will post $3.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 28th. Danaher Corporation’s dividend payout ratio is presently 16.52%.
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Danaher Corporation Profile
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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