Select Equity Group L.P. boosted its position in shares of Danaher Co. (NYSE:DHR) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,629,580 shares of the conglomerate’s stock after buying an additional 183,591 shares during the quarter. Danaher accounts for approximately 1.3% of Select Equity Group L.P.’s investment portfolio, making the stock its 26th largest position. Select Equity Group L.P. owned approximately 0.23% of Danaher worth $159,552,000 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. CNB Bank acquired a new stake in Danaher in the 4th quarter valued at approximately $116,000. Truewealth LLC bought a new position in shares of Danaher during the 4th quarter worth approximately $121,000. Zions Bancorporation bought a new position in shares of Danaher during the 1st quarter worth approximately $123,000. Institutional & Family Asset Management LLC bought a new position in Danaher in the 1st quarter valued at $171,000. Finally, Wagner Wealth Management LLC raised its position in Danaher by 153.5% in the 1st quarter. Wagner Wealth Management LLC now owns 1,800 shares of the conglomerate’s stock valued at $176,000 after purchasing an additional 1,090 shares during the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.
Danaher opened at $98.68 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.59 and a quick ratio of 1.15. The stock has a market cap of $68.89 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.85 and a beta of 1.03. Danaher Co. has a 52-week low of $78.97 and a 52-week high of $104.82.
Danaher (NYSE:DHR) last issued its earnings results on Thursday, April 19th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. The business had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Danaher had a net margin of 13.56% and a return on equity of 11.39%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. analysts forecast that Danaher Co. will post 4.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Investors of record on Friday, June 29th will be given a $0.16 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.64 annualized dividend and a yield of 0.65%. Danaher’s dividend payout ratio (DPR) is presently 15.88%.
In other news, insider Thomas Patrick Joyce, Jr. sold 120,354 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $101.17, for a total transaction of $12,176,214.18. Following the completion of the transaction, the insider now directly owns 151,959 shares of the company’s stock, valued at $15,373,692.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel L. Comas sold 25,206 shares of the stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $101.39, for a total transaction of $2,555,636.34. Following the completion of the transaction, the chief financial officer now directly owns 148,769 shares of the company’s stock, valued at $15,083,688.91. The disclosure for this sale can be found here. Insiders sold 241,940 shares of company stock valued at $24,527,925 over the last quarter. 11.90% of the stock is owned by company insiders.
A number of research firms have recently weighed in on DHR. Robert W. Baird restated a “buy” rating and set a $106.00 target price on shares of Danaher in a research report on Friday, April 20th. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Thursday, May 17th. Credit Suisse Group reissued an “outperform” rating on shares of Danaher in a research note on Friday, March 9th. Morgan Stanley boosted their price target on Danaher from $112.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, April 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $114.00 target price (up previously from $108.00) on shares of Danaher in a report on Thursday, April 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $105.69.
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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