Chartwell Investment Partners LLC bought a new position in shares of Danaher Co. (NYSE:DHR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,220 shares of the conglomerate’s stock, valued at approximately $4,990,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DHR. Lion Street Advisors LLC purchased a new position in Danaher during the first quarter worth about $25,000. Howe & Rusling Inc. lifted its stake in shares of Danaher by 81.4% in the 2nd quarter. Howe & Rusling Inc. now owns 156 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. Manchester Financial Inc. increased its position 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 in the last quarter. Semmax Financial Advisors Inc. purchased a new position in Danaher in the second quarter valued at approximately $35,000. Finally, Trustcore Financial Services LLC lifted its position in Danaher by 36.9% during the second quarter. Trustcore Financial Services LLC now owns 230 shares of the conglomerate’s stock valued at $41,000 after buying an additional 62 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.
A number of equities analysts have recently commented on the stock. Credit Suisse Group raised their target price on shares of Danaher from $165.00 to $169.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Robert W. Baird boosted their price objective on Danaher from $163.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Jefferies Financial Group upped their target price on Danaher from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Citigroup raised their target price on Danaher from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Royal Bank of Canada upped their price target on Danaher from $205.00 to $218.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Danaher currently has a consensus rating of “Buy” and an average target price of $197.73.
Shares of NYSE DHR 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 company has a market cap of $142.15 billion, a price-to-earnings ratio of 43.64, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $182.24 and its 200 day simple moving average is $161.95.
Danaher (NYSE:DHR) last issued its earnings results 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. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.01 billion. Danaher had a return on equity of 11.88% and a net margin of 17.73%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. As a group, equities analysts forecast that Danaher Co. will post 5.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, June 26th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, June 25th. Danaher’s payout ratio is 16.29%.
In other news, CAO Robert S. Lutz sold 33,892 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 18,950 shares of the company’s stock, valued at $3,063,836. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew Mcgrew sold 7,457 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $203.42, for a total value of $1,516,902.94. Following the transaction, the chief financial officer now directly owns 12,387 shares in the company, valued at $2,519,763.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 498,929 shares of company stock valued at $94,446,919. 11.70% of the stock is owned by insiders.
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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