Zacks Investment Management cut its stake in Danaher Co. (NYSE:DHR) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,130 shares of the conglomerate’s stock after selling 203 shares during the period. Zacks Investment Management’s holdings in Danaher were worth $10,595,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in DHR. MBM Wealth Consultants LLC lifted its stake in Danaher by 2.0% during the 2nd quarter. MBM Wealth Consultants LLC now owns 3,701 shares of the conglomerate’s stock valued at $529,000 after acquiring an additional 74 shares during the period. Mechanics Bank Trust Department lifted its stake in Danaher by 1.7% during the 2nd quarter. Mechanics Bank Trust Department now owns 4,384 shares of the conglomerate’s stock valued at $627,000 after acquiring an additional 75 shares during the period. Adirondack Trust Co. lifted its stake in Danaher by 3.1% during the 1st quarter. Adirondack Trust Co. now owns 2,635 shares of the conglomerate’s stock valued at $349,000 after acquiring an additional 78 shares during the period. Cornerstone Advisors Inc. lifted its stake in Danaher by 2.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,783 shares of the conglomerate’s stock valued at $367,000 after acquiring an additional 79 shares during the period. Finally, Copperwynd Financial LLC lifted its stake in Danaher by 1.9% during the 2nd quarter. Copperwynd Financial LLC now owns 4,144 shares of the conglomerate’s stock valued at $592,000 after acquiring an additional 79 shares during the period. Institutional investors own 78.43% of the company’s stock.
Several analysts have commented on the stock. Royal Bank of Canada set a $134.00 price objective on shares of Danaher and gave the company a “hold” rating in a research note on Friday, July 19th. Piper Jaffray Companies lifted their price objective on shares of Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Robert W. Baird lifted their price objective on shares of Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wolfe Research assumed coverage on shares of Danaher in a research note on Thursday, May 30th. They set an “outperform” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $155.00 price objective (up from $142.00) on shares of Danaher in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $143.54.
Danaher (NYSE:DHR) last posted its earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.09 billion. Danaher had a net margin of 12.22% and a return on equity of 11.53%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities research analysts predict that Danaher Co. will post 4.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 26th. Danaher’s dividend payout ratio (DPR) is 15.04%.
In other news, Chairman Mitchell P. Rales bought 2,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $139.52 per share, with a total value of $348,800.00. Following the acquisition, the chairman now directly owns 3,030,453 shares in the company, valued at $422,808,802.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian W. Ellis sold 1,010 shares of Danaher stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $144.04, for a total transaction of $145,480.40. Following the transaction, the insider now directly owns 20,889 shares of the company’s stock, valued at $3,008,851.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,202 shares of company stock valued at $25,175,829. Insiders own 11.40% of the company’s stock.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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