Papp L Roy & Associates decreased its stake in Danaher Co. (NYSE:DHR) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,389 shares of the conglomerate’s stock after selling 250 shares during the quarter. Papp L Roy & Associates’ holdings in Danaher were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Danaher by 1.4% in the second quarter. Vanguard Group Inc. now owns 48,262,218 shares of the conglomerate’s stock valued at $6,897,635,000 after buying an additional 686,421 shares during the period. Northern Trust Corp lifted its stake in Danaher by 0.5% in the second quarter. Northern Trust Corp now owns 8,929,430 shares of the conglomerate’s stock valued at $1,276,194,000 after buying an additional 41,740 shares during the period. Bank of New York Mellon Corp lifted its stake in Danaher by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 5,753,246 shares of the conglomerate’s stock valued at $822,255,000 after buying an additional 188,752 shares during the period. Jennison Associates LLC lifted its stake in Danaher by 38.4% in the second quarter. Jennison Associates LLC now owns 5,135,358 shares of the conglomerate’s stock valued at $733,945,000 after buying an additional 1,424,328 shares during the period. Finally, Parnassus Investments CA lifted its stake in Danaher by 1.2% in the third quarter. Parnassus Investments CA now owns 4,772,773 shares of the conglomerate’s stock valued at $689,332,000 after buying an additional 54,323 shares during the period. 78.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE DHR traded up $0.73 during mid-day trading on Friday, reaching $135.23. 1,633,369 shares of the company’s stock were exchanged, compared to its average volume of 2,487,994. The firm has a market capitalization of $95.87 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.24 and a beta of 0.92. The company has a current ratio of 3.43, a quick ratio of 3.09 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $139.07 and a 200 day simple moving average of $138.28. Danaher Co. has a twelve month low of $94.59 and a twelve month high of $147.33.
Danaher (NYSE:DHR) last released its quarterly earnings results on Thursday, October 24th. The conglomerate reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.01. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.02 billion. Danaher had a return on equity of 11.42% and a net margin of 12.13%. Danaher’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. Equities research analysts predict that Danaher Co. will post 4.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.50%. Danaher’s payout ratio is presently 15.04%.
Several equities analysts have weighed in on the company. Piper Jaffray Companies increased their target price on Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Robert W. Baird raised their price target on Danaher from $131.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Argus raised their price target on Danaher to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $151.00 price target on shares of Danaher in a research report on Monday, October 14th. Finally, ValuEngine lowered Danaher from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $145.86.
In other news, Chairman Mitchell P. Rales acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $139.52 per share, for a total transaction of $348,800.00. Following the completion of the acquisition, the chairman now owns 3,030,453 shares in the company, valued at $422,808,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.40% of the stock is currently owned by company insiders.
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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