Bessemer Group Inc. cut its stake in shares of Danaher Co. (NYSE:DHR) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,100,672 shares of the conglomerate’s stock after selling 445,114 shares during the period. Danaher accounts for 1.3% of Bessemer Group Inc.’s holdings, making the stock its 13th largest position. Bessemer Group Inc.’s holdings in Danaher were worth $336,920,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of DHR. Principal Financial Group Inc. boosted its stake in Danaher by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,915,209 shares of the conglomerate’s stock worth $187,519,000 after purchasing an additional 40,320 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in Danaher by 4.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 121,458 shares of the conglomerate’s stock worth $11,985,000 after purchasing an additional 4,862 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in Danaher by 20.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 6,677 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 1,123 shares during the last quarter. Stokes Capital Advisors LLC boosted its stake in Danaher by 12.8% during the 2nd quarter. Stokes Capital Advisors LLC now owns 17,615 shares of the conglomerate’s stock worth $1,738,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Lincoln Capital LLC boosted its stake in Danaher by 8.0% during the 2nd quarter. Lincoln Capital LLC now owns 79,559 shares of the conglomerate’s stock worth $7,916,000 after purchasing an additional 5,916 shares during the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.
Several equities research analysts have issued reports on DHR shares. Bank of America set a $113.00 target price on shares of Danaher and gave the stock a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research cut shares of Danaher from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Morgan Stanley lifted their price target on Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. Royal Bank of Canada lifted their price target on Danaher to $107.00 and gave the stock a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Robert W. Baird reduced their price target on Danaher from $116.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $112.14.
In related news, Director Donald J. Ehrlich sold 10,578 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $95.77, for a total value of $1,013,055.06. Following the sale, the director now directly owns 105,491 shares in the company, valued at approximately $10,102,873.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel L. Comas sold 36,000 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $103.88, for a total transaction of $3,739,680.00. Following the completion of the sale, the chief financial officer now owns 124,218 shares in the company, valued at $12,903,765.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,007 shares of company stock worth $15,202,163. Insiders own 11.90% of the company’s stock.
NYSE DHR opened at $104.39 on Friday. Danaher Co. has a 52 week low of $91.65 and a 52 week high of $110.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.53. The firm has a market cap of $72.94 billion, a PE ratio of 25.90, a P/E/G ratio of 2.00 and a beta of 1.04.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, October 18th. The conglomerate reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. Danaher had a return on equity of 11.59% and a net margin of 14.07%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Danaher Co. will post 4.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, September 28th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Danaher’s dividend payout ratio is presently 15.88%.
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Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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