Bluestein R H & Co. cut its stake in shares of Danaher Co. (NYSE:DHR) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,880 shares of the conglomerate’s stock after selling 250 shares during the period. Bluestein R H & Co.’s holdings in Danaher were worth $877,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Guidance Point Advisors LLC acquired a new stake in Danaher during the third quarter worth approximately $25,000. D Orazio & Associates Inc. bought a new position in shares of Danaher during the third quarter worth approximately $27,000. Alaethes Wealth LLC bought a new position in shares of Danaher during the second quarter worth approximately $32,000. JFS Wealth Advisors LLC increased its holdings in shares of Danaher by 53.3% during the third quarter. JFS Wealth Advisors LLC now owns 115 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 40 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Danaher during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Several research analysts have recently commented on DHR shares. Zacks Investment Research cut shares of Danaher from a “buy” rating to a “hold” rating and set a $322.00 target price on the stock. in a report on Wednesday, October 27th. KeyCorp raised their target price on shares of Danaher from $315.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. Wells Fargo & Company raised their target price on shares of Danaher from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, December 14th. Robert W. Baird lowered their target price on shares of Danaher from $340.00 to $334.00 in a report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Danaher from $332.00 to $334.00 and gave the company a “sector perform” rating in a research note on Friday, October 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Danaher presently has an average rating of “Buy” and a consensus price target of $338.67.
NYSE DHR opened at $269.97 on Friday. The firm’s fifty day moving average price is $308.22 and its two-hundred day moving average price is $308.28. The stock has a market cap of $192.91 billion, a PE ratio of 34.22, a PEG ratio of 1.29 and a beta of 0.70. Danaher Co. has a fifty-two week low of $211.22 and a fifty-two week high of $333.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.48.
Danaher (NYSE:DHR) last posted its earnings results on Wednesday, January 26th. The conglomerate reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.15. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $7.98 billion. Danaher had a net margin of 20.97% and a return on equity of 18.32%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, sell-side analysts predict that Danaher Co. will post 9.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Shareholders of record on Thursday, December 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, December 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.31%. Danaher’s payout ratio is presently 10.65%.
In other news, CFO Matthew Mcgrew sold 2,589 shares of Danaher stock in a transaction on Friday, November 26th. The shares were sold at an average price of $325.50, for a total transaction of $842,719.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell P. Rales sold 343,862 shares of Danaher stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $305.85, for a total transaction of $105,170,192.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 750,719 shares of company stock worth $233,160,046. Insiders own 11.40% of the company’s stock.
Danaher Company Profile
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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