State Board of Administration of Florida Retirement System increased its stake in Danaher Co. (NYSE:DHR) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 854,712 shares of the conglomerate’s stock after acquiring an additional 7,206 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Danaher were worth $112,839,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of DHR. Laurel Wealth Advisors LLC purchased a new position in Danaher during the 4th quarter valued at about $27,000. CX Institutional grew its stake in Danaher by 188.7% during the 1st quarter. CX Institutional now owns 205 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 134 shares in the last quarter. Hanson McClain Inc. grew its stake in Danaher by 852.9% during the 4th quarter. Hanson McClain Inc. now owns 324 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 290 shares in the last quarter. Executive Wealth Management LLC purchased a new position in Danaher during the 4th quarter valued at about $39,000. Finally, Ruggie Capital Group purchased a new position in Danaher during the 4th quarter valued at about $40,000. 76.98% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on DHR shares. Janney Montgomery Scott raised Danaher from a “neutral” rating to a “buy” rating in a research note on Monday, February 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $140.00 target price on shares of Danaher in a research note on Monday, March 4th. UBS Group lifted their target price on Danaher from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Deutsche Bank lifted their target price on Danaher to $130.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Jefferies Financial Group lifted their target price on Danaher to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Danaher currently has an average rating of “Buy” and a consensus price target of $131.75.
Shares of Danaher stock opened at $132.27 on Friday. The stock has a market cap of $93.82 billion, a PE ratio of 29.26, a PEG ratio of 2.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.18 and a quick ratio of 1.74. Danaher Co. has a 52-week low of $94.59 and a 52-week high of $134.67.
Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, April 18th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.06. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.80 billion. Danaher had a return on equity of 11.61% and a net margin of 12.04%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. Equities analysts expect that Danaher Co. will post 4.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.51%. Danaher’s dividend payout ratio is 15.04%.
In other news, SVP Angela S. Lalor sold 4,534 shares of Danaher stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $127.25, for a total transaction of $576,951.50. Following the completion of the sale, the senior vice president now directly owns 21,209 shares in the company, valued at approximately $2,698,845.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan G. Spoon sold 1,913 shares of Danaher stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $129.52, for a total value of $247,771.76. Following the sale, the director now owns 86,863 shares of the company’s stock, valued at $11,250,495.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 424,761 shares of company stock valued at $54,983,097. 11.40% of the stock is owned by corporate insiders.
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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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