RMB Capital Management LLC reduced its stake in Danaher Co. (NYSE:DHR) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 256,861 shares of the conglomerate’s stock after selling 1,118 shares during the quarter. Danaher makes up 1.7% of RMB Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. RMB Capital Management LLC’s holdings in Danaher were worth $35,552,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DHR. NEXT Financial Group Inc grew its stake in shares of Danaher by 30.1% during the 4th quarter. NEXT Financial Group Inc now owns 2,460 shares of the conglomerate’s stock worth $378,000 after acquiring an additional 569 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of Danaher by 3.4% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,953 shares of the conglomerate’s stock valued at $453,000 after acquiring an additional 96 shares during the last quarter. Savior LLC bought a new stake in shares of Danaher during the 4th quarter valued at about $32,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Danaher by 180.5% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 244 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 157 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Danaher during the 4th quarter valued at about $636,000. 77.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE DHR traded up $0.60 during mid-day trading on Friday, hitting $158.26. 1,483,268 shares of the stock traded hands, compared to its average volume of 3,639,653. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.01 and a current ratio of 1.32. 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 price-to-earnings ratio of 35.97, a PEG ratio of 3.56 and a beta of 0.93. The stock has a fifty day moving average price of $155.43 and a 200-day moving average price of $151.19.
Danaher (NYSE:DHR) last released its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Danaher had a return on equity of 11.52% and a net margin of 16.85%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Danaher Co. will post 4.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.45%. The ex-dividend date is Thursday, June 25th. Danaher’s dividend payout ratio (DPR) is 16.29%.
In related news, Chairman Mitchell P. Rales bought 1,226 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $163.00 per share, with a total value of $199,838.00. Following the completion of the acquisition, the chairman now owns 2,236,454 shares of the company’s stock, valued at approximately $364,542,002. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Robert S. Lutz sold 33,892 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $161.68, for a total value of $5,479,658.56. Following the completion of the sale, the chief accounting officer now directly owns 18,950 shares in the company, valued at $3,063,836. The disclosure for this sale can be found here. Insiders sold 70,974 shares of company stock worth $11,564,444 over the last three months. Corporate insiders own 11.70% of the company’s stock.
DHR has been the topic of a number of analyst reports. Zacks Investment Research raised Danaher from a “sell” rating to a “hold” rating and set a $160.00 price target on the stock in a research note on Wednesday, April 15th. Royal Bank of Canada lifted their price objective on Danaher from $159.00 to $173.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Piper Sandler lifted their price objective on Danaher from $142.00 to $174.00 in a research report on Thursday, January 30th. Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Danaher in a research report on Monday, February 3rd. Finally, Wells Fargo & Co lifted their price objective on Danaher from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Danaher currently has an average rating of “Buy” and a consensus price target of $168.69.
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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