Cigna Investments Inc. New grew its holdings in shares of Danaher Co. (NYSE:DHR) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,835 shares of the conglomerate’s stock after purchasing an additional 1,080 shares during the period. Cigna Investments Inc. New’s holdings in Danaher were worth $2,468,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. JJJ Advisors Inc. purchased a new stake in shares of Danaher during the 4th quarter valued at $26,000. Archer Investment Corp acquired a new position in shares of Danaher in the 4th quarter valued at $27,000. Lion Street Advisors LLC acquired a new position in shares of Danaher in the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Danaher in the 4th quarter valued at $28,000. Finally, Tobias Financial Advisors Inc. acquired a new position in shares of Danaher in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.
Several research firms recently issued reports on DHR. Wolfe Research downgraded Danaher from an “outperform” rating to a “market perform” rating and set a $154.00 target price on the stock. in a research report on Thursday, April 2nd. Piper Sandler upped their target price on Danaher from $142.00 to $174.00 in a research report on Thursday, January 30th. Wells Fargo & Co upped their target price on Danaher from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Bank of America upped their target price on Danaher from $160.00 to $181.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Robert W. Baird reissued a “buy” rating and issued a $136.00 target price on shares of Danaher in a research report on Monday, March 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $168.69.
In related news, SVP Daniel Raskas sold 37,082 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.09, for a total value of $6,084,785.38. Following the transaction, the senior vice president now directly owns 19,723 shares of the company’s stock, valued at approximately $3,236,347.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell P. Rales purchased 1,226 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $163.00 per share, for a total transaction of $199,838.00. Following the completion of the purchase, the chairman now directly owns 2,236,454 shares in the company, valued at approximately $364,542,002. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 70,974 shares of company stock worth $11,564,444. Corporate insiders own 11.70% of the company’s stock.
Shares of DHR stock traded up $0.60 during mid-day trading on Friday, hitting $158.26. 1,483,268 shares of the stock were exchanged, compared to its average volume of 3,639,653. The firm has a fifty day moving average of $155.43 and a 200 day moving average of $151.19. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. Danaher Co. has a 52-week low of $119.60 and a 52-week high of $170.64. The company has a market cap of $109.97 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 3.56 and a beta of 0.93.
Danaher (NYSE:DHR) last posted its earnings results on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. Danaher had a net margin of 16.85% and a return on equity of 11.52%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts predict that Danaher Co. will post 4.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, June 25th. Danaher’s payout ratio is currently 16.29%.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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