First Light Asset Management LLC purchased a new stake in Danaher Co. (NYSE:DHR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,400 shares of the conglomerate’s stock, valued at approximately $200,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Danaher by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 48,262,218 shares of the conglomerate’s stock valued at $6,897,635,000 after buying an additional 686,421 shares in the last quarter. Northern Trust Corp increased its stake in Danaher by 0.5% in the 2nd quarter. Northern Trust Corp now owns 8,929,430 shares of the conglomerate’s stock worth $1,276,194,000 after purchasing an additional 41,740 shares during the period. Bank of New York Mellon Corp increased its stake in Danaher by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,753,246 shares of the conglomerate’s stock worth $822,255,000 after purchasing an additional 188,752 shares during the period. Jennison Associates LLC increased its stake in Danaher by 38.4% in the 2nd quarter. Jennison Associates LLC now owns 5,135,358 shares of the conglomerate’s stock worth $733,945,000 after purchasing an additional 1,424,328 shares during the period. Finally, American Century Companies Inc. increased its stake in Danaher by 3.7% in the 1st quarter. American Century Companies Inc. now owns 3,700,569 shares of the conglomerate’s stock worth $488,549,000 after purchasing an additional 133,300 shares during the period. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. Piper Jaffray Companies lifted their price target on Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $134.00 price target on Danaher and gave the stock a “hold” rating in a research note on Friday, July 19th. Argus lifted their price target on Danaher to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wolfe Research assumed coverage on Danaher in a research note on Thursday, May 30th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $155.00 price target (up from $142.00) on shares of Danaher in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $143.54.
Shares of DHR stock traded up $0.72 during trading hours on Friday, reaching $146.47. The company’s stock had a trading volume of 4,654,820 shares, compared to its average volume of 2,054,346. The stock has a market capitalization of $103.27 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.60 and a beta of 0.94. Danaher Co. has a one year low of $94.59 and a one year high of $147.33. The firm’s fifty day simple moving average is $140.21 and its 200 day simple moving average is $135.89. The company has a current ratio of 2.32, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.
Danaher (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. As a group, equities research analysts forecast that Danaher Co. will post 4.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.68 annualized dividend and a dividend yield of 0.46%. Danaher’s dividend payout ratio is presently 15.04%.
Danaher Company Profile
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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