United Capital Financial Advisers LLC cut its stake in Danaher Co. (NYSE:DHR) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,157 shares of the conglomerate’s stock after selling 9,586 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Danaher were worth $42,327,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of DHR. Jennison Associates LLC acquired a new position in shares of Danaher in the first quarter worth $489,930,000. Janus Henderson Group PLC increased its stake in shares of Danaher by 274.8% in the second quarter. Janus Henderson Group PLC now owns 2,858,029 shares of the conglomerate’s stock worth $408,466,000 after acquiring an additional 2,095,396 shares during the last quarter. Railway Pension Investments Ltd acquired a new position in shares of Danaher in the second quarter worth $13,030,000. Sustainable Growth Advisers LP acquired a new position in Danaher during the second quarter worth $124,387,000. Finally, Marshall Wace North America L.P. increased its position in Danaher by 48.5% during the first quarter. Marshall Wace North America L.P. now owns 2,115,438 shares of the conglomerate’s stock worth $279,281,000 after buying an additional 690,837 shares during the last quarter. 78.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:DHR traded up $2.24 during midday trading on Thursday, hitting $141.74. The company’s stock had a trading volume of 1,851,600 shares, compared to its average volume of 2,550,328. The stock has a market capitalization of $99.97 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 2.52 and a beta of 0.94. The stock’s 50 day simple moving average is $140.18 and its 200 day simple moving average is $135.10. Danaher Co. has a fifty-two week low of $94.59 and a fifty-two week high of $145.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. As a group, analysts anticipate that Danaher Co. will post 4.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 26th. Danaher’s dividend payout ratio is currently 15.04%.
In related news, SVP Angela S. Lalor sold 20,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $142.30, for a total value of $2,846,000.00. Following the completion of the sale, the senior vice president now owns 58,515 shares in the company, valued at $8,326,684.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian W. Ellis sold 1,010 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $144.04, for a total transaction of $145,480.40. Following the completion of the sale, the insider now owns 20,889 shares of the company’s stock, valued at approximately $3,008,851.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,202 shares of company stock worth $25,175,829. 11.40% of the stock is currently owned by company insiders.
Several equities analysts have commented on the stock. Robert W. Baird increased their target price on shares of Danaher from $131.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wolfe Research assumed coverage on shares of Danaher in a research report on Thursday, May 30th. They set an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $155.00 target price (up from $142.00) on shares of Danaher in a research report on Friday, July 19th. Royal Bank of Canada set a $134.00 target price on shares of Danaher and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Piper Jaffray Companies increased their target price on shares of Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $143.54.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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