Archford Capital Strategies LLC bought a new position in Danaher Co. (NYSE:DHR) during the 2nd quarter, Holdings Channel reports. The fund bought 8,009 shares of the conglomerate’s stock, valued at approximately $790,000.
Other hedge funds have also recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Danaher in the first quarter worth about $103,000. IMS Capital Management bought a new stake in shares of Danaher in the second quarter worth about $107,000. BerganKDV Wealth Management LLC bought a new stake in shares of Danaher in the second quarter worth about $111,000. Braun Bostich & Associates Inc. increased its holdings in shares of Danaher by 506.4% in the second quarter. Braun Bostich & Associates Inc. now owns 1,225 shares of the conglomerate’s stock worth $121,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Kaizen Advisory LLC increased its holdings in shares of Danaher by 150.3% in the second quarter. Kaizen Advisory LLC now owns 1,464 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 879 shares during the last quarter. 76.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Thomas Patrick Joyce, Jr. sold 104,913 shares of Danaher stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $101.88, for a total value of $10,688,536.44. Following the completion of the transaction, the insider now owns 276,438 shares in the company, valued at $28,163,503.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William K. Daniel sold 103,086 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $100.63, for a total value of $10,373,544.18. Following the transaction, the executive vice president now owns 167,080 shares of the company’s stock, valued at approximately $16,813,260.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,961 shares of company stock valued at $30,619,691. 11.90% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Danaher from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. ValuEngine raised Danaher from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Finally, Morgan Stanley lifted their target price on Danaher from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, July 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $108.31.
DHR opened at $104.60 on Friday. The stock has a market capitalization of $72.45 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.98 and a beta of 1.03. Danaher Co. has a 12 month low of $83.81 and a 12 month high of $106.08. The company has a quick ratio of 1.07, a current ratio of 1.50 and a debt-to-equity ratio of 0.41.
Danaher (NYSE:DHR) last released its quarterly earnings results on Thursday, July 19th. The conglomerate reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.06. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.91 billion. Danaher had a return on equity of 11.55% and a net margin of 13.84%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. analysts anticipate that Danaher Co. will post 4.49 earnings per share for the current year.
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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