Stralem & Co. Inc. lowered its position in shares of Danaher Co. (NYSE:DHR) by 11.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,987 shares of the conglomerate’s stock after selling 5,133 shares during the quarter. Danaher accounts for approximately 3.4% of Stralem & Co. Inc.’s investment portfolio, making the stock its 11th largest position. Stralem & Co. Inc.’s holdings in Danaher were worth $5,920,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Bridge LLC lifted its holdings in shares of Danaher by 8.9% during the third quarter. Legacy Bridge LLC now owns 4,599 shares of the conglomerate’s stock valued at $664,000 after purchasing an additional 375 shares during the last quarter. Summit X LLC lifted its holdings in shares of Danaher by 2.2% during the third quarter. Summit X LLC now owns 5,409 shares of the conglomerate’s stock valued at $786,000 after purchasing an additional 115 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Danaher by 1.2% during the third quarter. Wealthfront Advisers LLC now owns 33,317 shares of the conglomerate’s stock valued at $4,812,000 after purchasing an additional 408 shares during the last quarter. City Holding Co. lifted its holdings in shares of Danaher by 48.5% during the third quarter. City Holding Co. now owns 306 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in shares of Danaher by 2.8% during the third quarter. Exane Derivatives now owns 8,403 shares of the conglomerate’s stock valued at $1,213,000 after purchasing an additional 229 shares during the last quarter. 78.44% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Daniel L. Comas sold 68,379 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $142.05, for a total value of $9,713,236.95. Following the completion of the sale, the executive vice president now directly owns 187,474 shares of the company’s stock, valued at approximately $26,630,681.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian W. Ellis sold 1,010 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $144.04, for a total value of $145,480.40. Following the completion of the sale, the insider now directly owns 20,889 shares of the company’s stock, valued at $3,008,851.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,202 shares of company stock valued at $25,175,829. Company insiders own 11.40% of the company’s stock.
Danaher stock traded down $0.12 during mid-day trading on Wednesday, hitting $137.47. The company’s stock had a trading volume of 1,207,989 shares, compared to its average volume of 2,288,156. The firm’s 50 day moving average is $141.24 and its 200 day moving average is $137.54. The company has a market cap of $99.51 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.32 and a quick ratio of 1.91. Danaher Co. has a 52-week low of $94.59 and a 52-week high of $147.33.
Danaher (NYSE:DHR) last announced its quarterly earnings data on Thursday, July 18th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS. As a group, analysts forecast that Danaher Co. will post 4.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, September 26th. Danaher’s dividend payout ratio is currently 15.04%.
Several equities research analysts have recently commented on the company. ValuEngine downgraded Danaher from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $155.00 target price (up from $142.00) on shares of Danaher in a report on Friday, July 19th. Wolfe Research set a $157.00 target price on Danaher and gave the company a “buy” rating in a report on Thursday, September 26th. Argus upped their target price on Danaher to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird upped their target price on Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $146.29.
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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