Chartwell Investment Partners LLC Invests $4.99 Million in Danaher Co. (NYSE:DHR)

Chartwell Investment Partners LLC bought a new stake in shares of Danaher Co. (NYSE:DHR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 28,220 shares of the conglomerate’s stock, valued at approximately $4,990,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in shares of Danaher by 9.7% in the second quarter. State of Michigan Retirement System now owns 160,738 shares of the conglomerate’s stock valued at $28,423,000 after acquiring an additional 14,271 shares during the period. Duality Advisers LP acquired a new position in Danaher during the 2nd quarter valued at $2,455,000. Everett Harris & Co. CA boosted its holdings in Danaher by 2.6% in the 2nd quarter. Everett Harris & Co. CA now owns 12,256 shares of the conglomerate’s stock valued at $2,167,000 after purchasing an additional 316 shares during the period. Tompkins Financial Corp grew its position in Danaher by 1.4% in the 2nd quarter. Tompkins Financial Corp now owns 25,327 shares of the conglomerate’s stock worth $4,478,000 after purchasing an additional 354 shares during the last quarter. Finally, Stelac Advisory Services LLC bought a new position in shares of Danaher during the 2nd quarter worth about $127,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Danaher stock opened at $203.80 on Friday. Danaher Co. has a 12-month low of $119.60 and a 12-month high of $204.13. The stock has a market capitalization of $142.15 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The company has a 50-day simple moving average of $182.24 and a 200 day simple moving average of $161.95. The company has a quick ratio of 1.74, a current ratio of 2.20 and a debt-to-equity ratio of 0.68.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 23rd. The conglomerate reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.35. Danaher had a net margin of 17.73% and a return on equity of 11.88%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Danaher Co. will post 5.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, June 26th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.72 dividend on an annualized basis and a yield of 0.35%. Danaher’s dividend payout ratio (DPR) is presently 16.29%.

A number of equities research analysts recently weighed in on DHR shares. Citigroup lifted their target price on Danaher from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Bank of America lifted their price objective on Danaher from $181.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Royal Bank of Canada boosted their price objective on Danaher from $205.00 to $218.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Credit Suisse Group raised their target price on Danaher from $165.00 to $169.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Finally, Robert W. Baird lifted their price target on shares of Danaher from $163.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Danaher presently has an average rating of “Buy” and a consensus price target of $197.73.

In other Danaher news, SVP Daniel Raskas sold 37,082 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William King sold 26,982 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $199.09, for a total transaction of $5,371,846.38. Following the transaction, the senior vice president now owns 29,821 shares in the company, valued at $5,937,062.89. The disclosure for this sale can be found here. Insiders have sold a total of 498,929 shares of company stock valued at $94,446,919 over the last ninety days. Insiders own 11.70% of the company’s stock.

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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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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