Pinnacle Financial Partners Inc Sells 22,597 Shares of Danaher Corporation $DHR

Pinnacle Financial Partners Inc cut its stake in shares of Danaher Corporation (NYSE:DHR) by 25.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 65,546 shares of the conglomerate’s stock after selling 22,597 shares during the period. Pinnacle Financial Partners Inc’s holdings in Danaher were worth $12,995,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. WFA of San Diego LLC purchased a new position in Danaher in the second quarter worth $26,000. Howard Hughes Medical Institute bought a new stake in Danaher during the second quarter worth about $27,000. TruNorth Capital Management LLC bought a new stake in Danaher during the third quarter worth about $28,000. Red Tortoise LLC boosted its holdings in shares of Danaher by 175.0% in the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 98 shares in the last quarter. Finally, Tripletail Wealth Management LLC bought a new position in shares of Danaher during the 3rd quarter valued at about $31,000. Institutional investors own 79.05% of the company’s stock.

Danaher Trading Down 1.6%

NYSE:DHR opened at $236.05 on Friday. The firm has a market capitalization of $166.73 billion, a P/E ratio of 48.67, a P/E/G ratio of 4.27 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $228.31 and a 200 day moving average of $211.85. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $258.23.

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

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, December 26th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.5%. Danaher’s dividend payout ratio (DPR) is presently 26.39%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Danaher from $230.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Cowen restated a “buy” rating on shares of Danaher in a report on Wednesday, January 7th. The Goldman Sachs Group assumed coverage on shares of Danaher in a report on Tuesday, December 9th. They set a “buy” rating and a $265.00 target price on the stock. Barclays lifted their target price on shares of Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group upped their price target on shares of Danaher from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

Insider Activity at Danaher

In other Danaher news, SVP Brian W. Ellis sold 21,776 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the completion of the transaction, the senior vice president owned 14,553 shares of the company’s stock, valued at $3,190,454.19. This represents a 59.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Georgeann Couchara sold 5,174 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 2,625 shares of the company’s stock, valued at approximately $552,352.50. This trade represents a 66.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,248 shares of company stock worth $6,609,663 in the last 90 days. Company insiders own 11.10% of the company’s stock.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.