Rhumbline Advisers Sells 18,499 Shares of Danaher Corporation $DHR

by · The Markets Daily

Rhumbline Advisers lessened its holdings in Danaher Corporation (NYSE:DHR – Free Report) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,064,218 shares of the conglomerate’s stock after selling 18,499 shares during the period. Rhumbline Advisers’ holdings in Danaher were worth $210,226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DHR. Nuveen LLC bought a new position in shares of Danaher in the first quarter worth about $833,941,000. Generation Investment Management LLP raised its stake in shares of Danaher by 56.2% during the second quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock valued at $980,914,000 after acquiring an additional 1,787,522 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Danaher by 44.5% in the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock valued at $965,259,000 after purchasing an additional 1,450,703 shares during the period. Primecap Management Co. CA grew its stake in Danaher by 924.2% in the second quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock worth $244,815,000 after purchasing an additional 1,118,318 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Danaher by 290.6% during the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock worth $295,550,000 after purchasing an additional 1,072,617 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of Danaher in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Danaher from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Bank of America decreased their price target on shares of Danaher from $230.00 to $220.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Finally, Wall Street Zen raised shares of Danaher from a “hold” rating to a “buy” rating in a report on Saturday. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.39.

Read Our Latest Analysis on DHR

Danaher Stock Up 2.3%

DHR stock opened at $227.34 on Friday. The company has a market capitalization of $160.58 billion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 3.28 and a beta of 0.81. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $258.23. The firm’s fifty day simple moving average is $208.58 and its 200-day simple moving average is $201.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.10.

Danaher (NYSE:DHR – Get Free Report) last issued its earnings results on Monday, October 20th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter last year, the company posted $1.71 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, September 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 26th. Danaher’s payout ratio is 26.39%.

Insider Transactions 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 value of $4,773,952.48. Following the sale, the senior vice president owned 14,553 shares in the company, valued at approximately $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 accessible through this link. Also, Director Teri List sold 3,298 shares of Danaher stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $226.50, for a total transaction of $746,997.00. Following the transaction, the director directly owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This trade represents a 13.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,248 shares of company stock worth $6,609,663 over the last quarter. 11.10% of the stock is currently owned by insiders.

About Danaher

(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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