Prio Wealth Limited Partnership cut its holdings in shares of Danaher Co. (NYSE:DHR) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,356 shares of the conglomerate’s stock after selling 1,508 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Danaher were worth $6,449,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in DHR. BlackRock Inc. increased its position in shares of Danaher by 6.2% during the 1st quarter. BlackRock Inc. now owns 43,526,564 shares of the conglomerate’s stock valued at $4,261,685,000 after purchasing an additional 2,542,198 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Danaher by 170.4% during the 1st quarter. Schroder Investment Management Group now owns 2,756,247 shares of the conglomerate’s stock valued at $269,865,000 after purchasing an additional 1,736,876 shares during the last quarter. Millennium Management LLC increased its position in shares of Danaher by 121.8% during the 1st quarter. Millennium Management LLC now owns 1,979,882 shares of the conglomerate’s stock valued at $193,850,000 after purchasing an additional 1,087,088 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Danaher by 149.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,601,225 shares of the conglomerate’s stock valued at $156,775,000 after purchasing an additional 958,663 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in shares of Danaher by 7,386.7% during the 1st quarter. Summit Trail Advisors LLC now owns 268,623 shares of the conglomerate’s stock valued at $269,000 after purchasing an additional 265,035 shares during the last quarter. 76.51% of the stock is owned by hedge funds and other institutional investors.
In other Danaher news, SVP Robert S. Lutz sold 14,555 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $103.93, for a total value of $1,512,701.15. Following the completion of the transaction, the senior vice president now owns 18,044 shares in the company, valued at approximately $1,875,312.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mitchell P. Rales bought 1,080 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was bought at an average price of $102.32 per share, with a total value of $110,505.60. Following the purchase, the chairman now owns 1,827,953 shares in the company, valued at $187,036,150.96. The disclosure for this purchase can be found here. Insiders have sold a total of 196,875 shares of company stock valued at $20,246,147 in the last quarter. 11.90% of the stock is owned by corporate insiders.
Danaher opened at $100.33 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.07, a current ratio of 1.50 and a debt-to-equity ratio of 0.41. The firm has a market cap of $71.17 billion, a PE ratio of 24.90, a PEG ratio of 1.95 and a beta of 1.04. Danaher Co. has a fifty-two week low of $79.10 and a fifty-two week high of $106.08.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 19th. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.06. The company had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.91 billion. Danaher had a return on equity of 11.55% and a net margin of 13.84%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. equities analysts forecast that Danaher Co. will post 4.49 EPS for the current year.
Several brokerages have recently issued reports on DHR. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley raised their target price on Danaher from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Royal Bank of Canada raised their target price on Danaher to $107.00 and gave the company a “positive” rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. Bank of America set a $113.00 target price on Danaher and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, ValuEngine raised Danaher from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $108.31.
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.
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