Oak Ridge Investments LLC trimmed its position in Danaher Corporation (NYSE:DHR) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,454 shares of the conglomerate’s stock after selling 21,652 shares during the period. Oak Ridge Investments LLC’s holdings in Danaher were worth $11,362,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. GQG Partners LLC bought a new position in shares of Danaher during the 2nd quarter worth approximately $101,000. Proficio Capital Partners LLC grew its stake in shares of Danaher by 92.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock worth $105,000 after acquiring an additional 598 shares in the last quarter. Monetary Management Group Inc. grew its stake in shares of Danaher by 10.7% in the second quarter. Monetary Management Group Inc. now owns 1,550 shares of the conglomerate’s stock valued at $131,000 after buying an additional 150 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Danaher by 185.5% in the second quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock valued at $143,000 after buying an additional 1,100 shares in the last quarter. Finally, Motco grew its stake in shares of Danaher by 8.8% in the second quarter. Motco now owns 2,011 shares of the conglomerate’s stock valued at $170,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 76.32% of the company’s stock.
Danaher Corporation (DHR) traded down $0.08 on Wednesday, hitting $92.74. The stock had a trading volume of 2,376,900 shares, compared to its average volume of 2,632,848. The firm has a market capitalization of $64,566.07, a P/E ratio of 23.86, a P/E/G ratio of 2.21 and a beta of 1.02. Danaher Corporation has a 12 month low of $76.27 and a 12 month high of $94.82. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.42.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.05. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.47 billion. Danaher had a return on equity of 11.29% and a net margin of 13.36%. Danaher’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. sell-side analysts expect that Danaher Corporation will post 3.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.60%. Danaher’s payout ratio is 16.52%.
In other news, CFO Daniel L. Comas sold 88,184 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $91.02, for a total transaction of $8,026,507.68. Following the sale, the chief financial officer now directly owns 227,816 shares in the company, valued at $20,735,812.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Donald J. Ehrlich sold 10,578 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $90.82, for a total value of $960,693.96. Following the completion of the sale, the director now owns 104,621 shares in the company, valued at $9,501,679.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,810 shares of company stock valued at $25,218,813. Insiders own 12.20% of the company’s stock.
DHR has been the subject of several analyst reports. J P Morgan Chase & Co reissued an “overweight” rating and issued a $95.00 target price on shares of Danaher in a research note on Friday, September 8th. Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Danaher in a research note on Tuesday, September 26th. Cowen reissued a “buy” rating and issued a $90.00 target price on shares of Danaher in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Danaher from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 price objective (up from $86.00) on shares of Danaher in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.31.
Danaher Company Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which 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; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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