Danaher Corporation (NYSE:DHR) Shares Sold by Conning Inc.

by · The Cerbat Gem

Conning Inc. trimmed its position in shares of Danaher Corporation (NYSE:DHR – Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,400 shares of the conglomerate’s stock after selling 2,877 shares during the quarter. Conning Inc.’s holdings in Danaher were worth $4,387,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DHR. Norges Bank acquired a new stake in shares of Danaher in the fourth quarter valued at about $2,130,740,000. GAMMA Investing LLC grew its stake in Danaher by 24,958.2% during the 1st quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate’s stock valued at $383,524,000 after acquiring an additional 1,863,381 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Danaher in the 4th quarter valued at about $391,172,000. Two Sigma Advisers LP lifted its stake in Danaher by 4,248.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate’s stock worth $376,347,000 after purchasing an additional 1,601,800 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Danaher by 32.7% during the 4th quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate’s stock worth $1,460,215,000 after purchasing an additional 1,566,658 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on DHR shares. Wells Fargo & Company cut their price target on Danaher from $240.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. UBS Group lowered their price target on shares of Danaher from $275.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Barclays reissued an “overweight” rating and issued a $225.00 price objective (up previously from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Danaher in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.61.

Get Our Latest Analysis on Danaher

Insider Activity at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the transaction, the executive vice president owned 15,179 shares in the company, valued at approximately $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman directly owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Danaher Stock Up 0.3%

NYSE:DHR opened at $203.08 on Friday. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $281.70. The stock’s fifty day moving average is $195.52 and its two-hundred day moving average is $207.59. The stock has a market capitalization of $145.33 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.84 and a beta of 0.77. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR – Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Danaher had a return on equity of 10.80% and a net margin of 15.81%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.58 billion. Research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.63%. Danaher’s dividend payout ratio is presently 24.85%.

Danaher Profile

(Free Report)

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.

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