Cresset Asset Management LLC Acquires 4,357 Shares of Danaher Co. (NYSE:DHR)

Cresset Asset Management LLC raised its holdings in Danaher Co. (NYSE:DHR) by 18.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,693 shares of the conglomerate’s stock after buying an additional 4,357 shares during the quarter. Cresset Asset Management LLC’s holdings in Danaher were worth $7,437,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Edge Capital Group LLC grew its holdings in shares of Danaher by 0.7% in the first quarter. Edge Capital Group LLC now owns 6,126 shares of the conglomerate’s stock worth $1,379,000 after acquiring an additional 42 shares during the period. First Citizens Financial Corp grew its holdings in Danaher by 2.0% during the second quarter. First Citizens Financial Corp now owns 2,154 shares of the conglomerate’s stock valued at $578,000 after purchasing an additional 42 shares during the period. Pinnacle Associates Ltd. grew its holdings in Danaher by 1.0% during the second quarter. Pinnacle Associates Ltd. now owns 4,209 shares of the conglomerate’s stock valued at $1,130,000 after purchasing an additional 42 shares during the period. Bar Harbor Trust Services grew its holdings in Danaher by 1.0% during the first quarter. Bar Harbor Trust Services now owns 4,539 shares of the conglomerate’s stock valued at $1,022,000 after purchasing an additional 47 shares during the period. Finally, Well Done LLC grew its holdings in Danaher by 3.1% during the second quarter. Well Done LLC now owns 1,551 shares of the conglomerate’s stock valued at $416,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.

DHR has been the subject of several recent research reports. Robert W. Baird boosted their price target on Danaher from $270.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Benchmark initiated coverage on Danaher in a report on Friday, July 16th. They set a “buy” rating and a $330.00 price target for the company. Bank of America boosted their price target on Danaher from $340.00 to $360.00 and gave the company a “buy” rating in a report on Friday, September 10th. Royal Bank of Canada boosted their price objective on Danaher from $304.00 to $332.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 8th. Finally, The Goldman Sachs Group boosted their price objective on Danaher from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $321.53.

In other Danaher news, EVP Joakim Weidemanis sold 6,700 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $298.93, for a total transaction of $2,002,831.00. Following the sale, the executive vice president now directly owns 70,720 shares in the company, valued at $21,140,329.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert S. Lutz sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $313.40, for a total value of $1,567,000.00. Following the transaction, the chief accounting officer now directly owns 21,155 shares in the company, valued at approximately $6,629,977. The disclosure for this sale can be found here. Insiders sold 52,477 shares of company stock worth $15,439,958 over the last quarter. 11.40% of the stock is owned by company insiders.

Shares of NYSE:DHR traded down $2.21 during mid-day trading on Thursday, reaching $323.05. The stock had a trading volume of 51,443 shares, compared to its average volume of 2,421,396. The company has a current ratio of 2.26, a quick ratio of 1.88 and a debt-to-equity ratio of 0.52. The company has a market cap of $230.63 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 1.93 and a beta of 0.70. Danaher Co. has a 1 year low of $201.44 and a 1 year high of $333.96. The business’s 50 day moving average price is $307.60 and its 200 day moving average price is $266.10.

Danaher (NYSE:DHR) last posted its earnings results on Thursday, July 22nd. The conglomerate reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.41. The company had revenue of $7.22 billion for the quarter, compared to the consensus estimate of $6.71 billion. Danaher had a return on equity of 17.68% and a net margin of 21.00%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. Analysts predict that Danaher Co. will post 9.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. Danaher’s dividend payout ratio is currently 13.31%.

About Danaher

Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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