Seven Eight Capital LP decreased its position in Danaher Co. (NYSE:DHR) by 33.4% in the 3rd quarter, Holdings Channel reports. The firm owned 36,021 shares of the conglomerate’s stock after selling 18,100 shares during the period. Seven Eight Capital LP’s holdings in Danaher were worth $3,914,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fiduciary Group LLC bought a new position in Danaher in the 3rd quarter worth about $203,000. Tompkins Financial Corp grew its position in Danaher by 2.5% in the 3rd quarter. Tompkins Financial Corp now owns 22,534 shares of the conglomerate’s stock worth $2,448,000 after purchasing an additional 560 shares during the last quarter. Oakbrook Investments LLC bought a new position in Danaher in the 3rd quarter worth about $5,076,000. Davis R M Inc. grew its position in Danaher by 0.6% in the 3rd quarter. Davis R M Inc. now owns 418,620 shares of the conglomerate’s stock worth $45,487,000 after purchasing an additional 2,666 shares during the last quarter. Finally, Rothschild Investment Corp IL grew its position in Danaher by 17.5% in the 3rd quarter. Rothschild Investment Corp IL now owns 6,719 shares of the conglomerate’s stock worth $730,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Bank of America set a $113.00 price objective on shares of Danaher and gave the company a “buy” rating in a report on Thursday, July 19th. Robert W. Baird decreased their price objective on shares of Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a report on Friday. Royal Bank of Canada increased their price objective on shares of Danaher to $107.00 and gave the company a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on shares of Danaher from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $112.14.
In related news, insider Thomas Patrick Joyce, Jr. sold 104,913 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $101.88, for a total transaction of $10,688,536.44. Following the completion of the sale, the insider now directly owns 276,438 shares in the company, valued at $28,163,503.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert S. Lutz sold 14,555 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $103.93, for a total transaction of $1,512,701.15. Following the sale, the senior vice president now owns 18,044 shares of the company’s stock, valued at $1,875,312.92. The disclosure for this sale can be found here. Insiders have sold 299,961 shares of company stock valued at $30,619,691 over the last 90 days. 11.90% of the stock is currently owned by insiders.
Shares of NYSE:DHR opened at $100.39 on Friday. The company has a market cap of $70.25 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Danaher Co. has a 1-year low of $90.05 and a 1-year high of $110.13. 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 issued its earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Danaher had a net margin of 14.07% and a return on equity of 11.67%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Danaher Co. will post 4.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, September 27th. Danaher’s payout ratio is 15.88%.
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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