Sierra Legacy Group Boosts Stake in Danaher Corporation $DHR

Sierra Legacy Group lifted its holdings in shares of Danaher Corporation (NYSE:DHR) by 83.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,505 shares of the conglomerate’s stock after purchasing an additional 2,510 shares during the quarter. Sierra Legacy Group’s holdings in Danaher were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Danaher during the first quarter valued at about $833,941,000. Generation Investment Management LLP lifted its holdings in shares of Danaher by 56.2% in the 2nd quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock worth $980,914,000 after acquiring an additional 1,787,522 shares during the last quarter. Invesco Ltd. boosted its position in shares of Danaher by 44.5% during the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock worth $965,259,000 after purchasing an additional 1,450,703 shares during the period. Primecap Management Co. CA increased its holdings in Danaher by 924.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock valued at $244,815,000 after purchasing an additional 1,118,318 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Danaher by 290.6% in the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock valued at $295,550,000 after purchasing an additional 1,072,617 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

Shares of Danaher stock opened at $225.75 on Wednesday. The business has a 50-day simple moving average of $206.70 and a 200-day simple moving average of $201.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.10 and a current ratio of 1.52. Danaher Corporation has a one year low of $171.00 and a one year high of $258.23. The company has a market cap of $159.46 billion, a PE ratio of 46.55, a P/E/G ratio of 3.28 and a beta of 0.81.

Danaher (NYSE:DHR) last issued its earnings results on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, September 26th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 26th. Danaher’s payout ratio is 26.39%.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $220.00 target price on Danaher in a research note on Wednesday, October 8th. Bank of America lowered their target price on Danaher from $230.00 to $220.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Guggenheim reaffirmed a “buy” rating and issued a $250.00 target price on shares of Danaher in a research report on Wednesday, July 23rd. Finally, TD Cowen increased their price target on shares of Danaher from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.39.

Insider Buying and Selling

In related news, SVP Georgeann Couchara sold 5,174 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $210.42, for a total value of $1,088,713.08. Following the transaction, the senior vice president owned 2,625 shares of the company’s stock, valued at $552,352.50. This represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Teri List sold 2,778 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the completion of the sale, the director owned 20,751 shares in the company, valued at approximately $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,728 shares of company stock worth $6,448,990. Corporate insiders own 11.10% of the company’s stock.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.