Kayne Anderson Rudnick Investment Management LLC Sells 10,048 Shares of Danaher Co. (DHR)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Danaher Co. (NYSE:DHR) by 4.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,277 shares of the conglomerate’s stock after selling 10,048 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Danaher were worth $19,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BTC Capital Management Inc. boosted its stake in Danaher by 2.9% in the first quarter. BTC Capital Management Inc. now owns 47,862 shares of the conglomerate’s stock valued at $4,685,000 after acquiring an additional 1,359 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Danaher by 5.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 56,143 shares of the conglomerate’s stock valued at $5,497,000 after acquiring an additional 2,809 shares in the last quarter. Palisade Capital Management LLC NJ boosted its stake in Danaher by 1.1% in the first quarter. Palisade Capital Management LLC NJ now owns 210,841 shares of the conglomerate’s stock valued at $20,643,000 after acquiring an additional 2,252 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in Danaher by 41.0% in the first quarter. Canandaigua National Bank & Trust Co. now owns 24,710 shares of the conglomerate’s stock valued at $2,419,000 after acquiring an additional 7,184 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Danaher by 6.2% in the first quarter. BlackRock Inc. now owns 43,526,564 shares of the conglomerate’s stock valued at $4,261,685,000 after acquiring an additional 2,542,198 shares in the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

NYSE DHR opened at $102.32 on Thursday. The firm has a market capitalization of $70.84 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.90 and a beta of 1.03. Danaher Co. has a 12-month low of $78.97 and a 12-month high of $104.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.59 and a quick ratio of 1.15.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, April 19th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.05. Danaher had a net margin of 13.56% and a return on equity of 11.39%. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. equities analysts anticipate that Danaher Co. will post 4.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Investors of record on Friday, June 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.63%. Danaher’s dividend payout ratio (DPR) is presently 15.88%.

In related news, Director Walter G. Lohr sold 10,578 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $97.90, for a total transaction of $1,035,586.20. Following the completion of the transaction, the director now owns 19,821 shares of the company’s stock, valued at $1,940,475.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel L. Comas sold 78,379 shares of the firm’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $101.67, for a total transaction of $7,968,792.93. Following the transaction, the chief financial officer now directly owns 148,769 shares of the company’s stock, valued at approximately $15,125,344.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,077 shares of company stock valued at $27,022,784. 11.90% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on the stock. Robert W. Baird restated a “buy” rating and issued a $106.00 target price on shares of Danaher in a research note on Friday, April 20th. Jefferies Group restated a “buy” rating and issued a $117.00 target price on shares of Danaher in a research note on Friday, April 20th. Credit Suisse Group restated an “outperform” rating on shares of Danaher in a research note on Friday, March 9th. Stifel Nicolaus restated a “buy” rating and issued a $114.00 target price (up from $108.00) on shares of Danaher in a research note on Thursday, April 19th. Finally, Morgan Stanley raised their target price on shares of Danaher from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. Danaher has a consensus rating of “Buy” and a consensus target price of $105.56.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.

Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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