Meeder Asset Management Inc. boosted its stake in Danaher Corp. (NYSE:DHR) by 112.5% during the second quarter, Holdings Channel reports. The fund owned 26,978 shares of the company’s stock after buying an additional 14,280 shares during the period. Meeder Asset Management Inc.’s holdings in Danaher Corp. were worth $2,724,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allen Investment Management LLC raised its position in Danaher Corp. by 10.0% in the first quarter. Allen Investment Management LLC now owns 545,204 shares of the company’s stock valued at $51,718,000 after buying an additional 49,578 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. raised its stake in Danaher Corp. by 12.1% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,545,881 shares of the company’s stock valued at $156,134,000 after buying an additional 167,295 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Danaher Corp. by 6.0% in the second quarter. Nisa Investment Advisors LLC now owns 221,657 shares of the company’s stock valued at $22,387,000 after buying an additional 12,625 shares in the last quarter. Aperio Group LLC raised its stake in Danaher Corp. by 1.7% in the first quarter. Aperio Group LLC now owns 290,913 shares of the company’s stock valued at $27,596,000 after buying an additional 4,748 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C raised its stake in Danaher Corp. by 6.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,145,721 shares of the company’s stock valued at $108,683,000 after buying an additional 74,259 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.
Shares of Danaher Corp. (NYSE:DHR) traded up 1.63% during midday trading on Friday, reaching $78.39. The company had a trading volume of 3,411,312 shares. Danaher Corp. has a 12-month low of $61.60 and a 12-month high of $82.64. The firm has a market capitalization of $54.13 billion, a price-to-earnings ratio of 15.59 and a beta of 1.13. The company has a 50 day moving average of $79.15 and a 200 day moving average of $76.40.
Danaher Corp. (NYSE:DHR) last posted its quarterly earnings data on Monday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The business earned $5.80 billion during the quarter, compared to the consensus estimate of $5.76 billion. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. Analysts anticipate that Danaher Corp. will post $3.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 0.64%. Danaher Corp.’s payout ratio is presently 9.94%.
DHR has been the subject of several research analyst reports. Goldman Sachs Group Inc. initiated coverage on shares of Danaher Corp. in a research note on Tuesday, July 5th. They issued a “neutral” rating and a $74.00 price objective for the company. Zacks Investment Research lowered shares of Danaher Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley reiterated a “buy” rating and issued a $86.00 price objective on shares of Danaher Corp. in a research note on Wednesday, August 31st. Barclays PLC reiterated an “overweight” rating and issued a $86.00 price objective (down previously from $105.00) on shares of Danaher Corp. in a research note on Monday, July 11th. Finally, Vetr upgraded shares of Danaher Corp. from a “hold” rating to a “buy” rating and set a $81.69 price objective for the company in a research note on Monday, September 12th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $93.98.
In other news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the completion of the transaction, the insider now directly owns 179,054 shares in the company, valued at $14,582,157.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel L. Comas sold 96,446 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the transaction, the chief financial officer now owns 215,716 shares of the company’s stock, valued at $17,447,110.08. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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