Meeder Asset Management Inc. lifted its position in shares of Danaher Co. (NYSE:DHR) by 335.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 28,554 shares of the conglomerate’s stock after buying an additional 21,998 shares during the period. Meeder Asset Management Inc.’s holdings in Danaher were worth $6,427,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of DHR. Hudock Inc. boosted its stake in Danaher by 526.3% during the 4th quarter. Hudock Inc. now owns 119 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Danaher in the 4th quarter worth about $26,000. RMR Wealth Builders bought a new position in shares of Danaher in the 4th quarter worth about $26,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Danaher in the 4th quarter worth about $29,000. Finally, Reby Advisors LLC acquired a new stake in shares of Danaher in the 4th quarter worth about $30,000. 78.00% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Joakim Weidemanis sold 17,169 shares of the stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $258.76, for a total transaction of $4,442,650.44. Following the transaction, the executive vice president now directly owns 84,420 shares in the company, valued at approximately $21,844,519.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Angela S. Lalor sold 3,092 shares of the stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $255.79, for a total value of $790,902.68. Following the sale, the senior vice president now owns 30,937 shares of the company’s stock, valued at $7,913,375.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,698 shares of company stock worth $6,808,687. 11.70% of the stock is currently owned by corporate insiders.
Shares of NYSE:DHR traded down $2.30 during mid-day trading on Tuesday, hitting $252.37. 25,634 shares of the company traded hands, compared to its average volume of 2,598,075. The stock has a market cap of $180.01 billion, a P/E ratio of 51.55, a P/E/G ratio of 1.92 and a beta of 0.72. The company has a current ratio of 2.08, a quick ratio of 1.68 and a debt-to-equity ratio of 0.63. Danaher Co. has a 12-month low of $155.61 and a 12-month high of $260.37. The stock has a 50-day moving average price of $234.48 and a two-hundred day moving average price of $230.73.
Danaher (NYSE:DHR) last posted its quarterly earnings data on Wednesday, April 21st. The conglomerate reported $2.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.85. Danaher had a return on equity of 12.94% and a net margin of 18.05%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 58.2% on a year-over-year basis. As a group, analysts expect that Danaher Co. will post 6.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Friday, March 26th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Thursday, March 25th. This is a boost from Danaher’s previous quarterly dividend of $0.18. Danaher’s dividend payout ratio is currently 19.00%.
A number of analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Danaher from $260.00 to $264.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Royal Bank of Canada raised their target price on shares of Danaher from $253.00 to $285.00 and gave the company a “sector perform” rating in a research note on Friday, April 23rd. Citigroup lifted their price objective on shares of Danaher from $275.00 to $315.00 in a research note on Friday, April 23rd. Zacks Investment Research cut shares of Danaher from a “hold” rating to a “sell” rating and set a $241.00 target price for the company. in a report on Friday, April 9th. Finally, Barclays raised their price target on shares of Danaher from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $265.63.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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