McGuire Investment Group LLC decreased its holdings in Danaher Co. (NYSE:DHR) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,965 shares of the conglomerate’s stock after selling 2,755 shares during the quarter. Danaher accounts for about 2.2% of McGuire Investment Group LLC’s portfolio, making the stock its 16th largest holding. McGuire Investment Group LLC’s holdings in Danaher were worth $6,360,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp acquired a new stake in shares of Danaher during the 4th quarter worth $27,000. Lion Street Advisors LLC acquired a new stake in Danaher during the 1st quarter valued at approximately $25,000. Manchester Financial Inc. raised its holdings in Danaher by 50.0% during the 1st quarter. Manchester Financial Inc. now owns 228 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 76 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Danaher in the 4th quarter worth approximately $38,000. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Danaher by 1,055.6% in the 1st quarter. Prestige Wealth Management Group LLC now owns 312 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 285 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DHR traded down $0.26 during mid-day trading on Tuesday, reaching $182.15. 250,143 shares of the company’s stock traded hands, compared to its average volume of 2,252,110. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 1.01. The business has a 50-day simple moving average of $172.60 and a 200 day simple moving average of $158.41. The stock has a market cap of $126.70 billion, a P/E ratio of 41.28, a PEG ratio of 4.14 and a beta of 0.92. Danaher Co. has a 1-year low of $119.60 and a 1-year high of $187.19.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 25th. This represents a $0.72 annualized dividend and a dividend yield of 0.40%. Danaher’s payout ratio is 16.29%.
DHR has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on shares of Danaher from $187.00 to $183.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Credit Suisse Group upped their target price on Danaher from $165.00 to $169.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Bank of America raised their target price on Danaher from $160.00 to $181.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus boosted their price target on Danaher from $147.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Wolfe Research raised shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research report on Tuesday, June 16th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $171.25.
In other news, CAO Robert S. Lutz sold 33,892 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $161.68, for a total value of $5,479,658.56. Following the transaction, the chief accounting officer now owns 18,950 shares in the company, valued at approximately $3,063,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Daniel Raskas sold 37,082 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.09, for a total value of $6,084,785.38. Following the completion of the transaction, the senior vice president now directly owns 19,723 shares of the company’s stock, valued at $3,236,347.07. The disclosure for this sale can be found here. Insiders have sold 85,318 shares of company stock valued at $13,941,119 in the last quarter. 11.70% of the stock is currently owned by corporate insiders.
Danaher Company Profile
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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