Redmond Asset Management LLC lowered its position in shares of Danaher Co. (NYSE:DHR) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,894 shares of the conglomerate’s stock after selling 100 shares during the quarter. Redmond Asset Management LLC’s holdings in Danaher were worth $1,986,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in DHR. Litman Gregory Asset Management LLC acquired a new stake in Danaher in the 2nd quarter valued at about $33,000. Lenox Wealth Management Inc. acquired a new stake in shares of Danaher in the first quarter valued at approximately $40,000. Capital Advisors Ltd. LLC raised its holdings in shares of Danaher by 527.5% in the second quarter. Capital Advisors Ltd. LLC now owns 320 shares of the conglomerate’s stock valued at $46,000 after purchasing an additional 269 shares during the last quarter. American Research & Management Co. acquired a new position in Danaher during the first quarter worth $66,000. Finally, Contravisory Investment Management Inc. acquired a new position in Danaher during the second quarter worth $69,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Argus upped their price objective on shares of Danaher to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird increased their target price on shares of Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Janney Montgomery Scott increased their target price on shares of Danaher from $136.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $155.00 target price (up previously from $142.00) on shares of Danaher in a research report on Friday, July 19th. Finally, Zacks Investment Research raised shares of Danaher from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Danaher has a consensus rating of “Buy” and a consensus price target of $143.54.
In related news, SVP William King sold 12,950 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $129.92, for a total value of $1,682,464.00. Following the transaction, the senior vice president now directly owns 29,070 shares in the company, valued at approximately $3,776,774.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William K. Daniel sold 164,164 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $132.43, for a total value of $21,740,238.52. Following the completion of the sale, the executive vice president now directly owns 194,627 shares of the company’s stock, valued at $25,774,453.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,850 shares of company stock worth $49,587,520. 11.40% of the stock is owned by company insiders.
Shares of Danaher stock traded up $1.63 on Thursday, reaching $137.99. 45,206 shares of the company’s stock were exchanged, compared to its average volume of 2,374,486. Danaher Co. has a 52 week low of $94.59 and a 52 week high of $145.50. The business has a 50-day moving average price of $141.46. The company has a quick ratio of 1.91, a current ratio of 2.32 and a debt-to-equity ratio of 0.33. The firm has a market cap of $99.31 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.50 and a beta of 0.94.
Danaher (NYSE:DHR) last issued its earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the business earned $1.15 EPS. Danaher’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts forecast that Danaher Co. will post 4.79 earnings per share for the current fiscal year.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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