Pinnacle Associates Ltd. Sells 651 Shares of Danaher Co. (NYSE:DHR)

Pinnacle Associates Ltd. trimmed its holdings in shares of Danaher Co. (NYSE:DHR) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,836 shares of the conglomerate’s stock after selling 651 shares during the period. Pinnacle Associates Ltd.’s holdings in Danaher were worth $5,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cape Investment Advisory Inc. purchased a new position in Danaher in the fourth quarter valued at about $25,000. Tsfg LLC grew its holdings in Danaher by 733.3% during the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new stake in Danaher in the second quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Danaher in the first quarter valued at $30,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Danaher during the 4th quarter valued at $42,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Leerink Partners boosted their price objective on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group started coverage on shares of Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price target on the stock. Bank of America raised their price objective on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company assumed coverage on shares of Danaher in a report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 target price on the stock. Finally, Barclays raised their price target on Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.94.

Insider Activity at Danaher

In other Danaher news, CEO Rainer Blair sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now owns 97,983 shares of the company’s stock, valued at $27,435,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Danaher news, CEO Rainer Blair sold 9,007 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at $27,435,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,659 shares of company stock valued at $11,042,433. Corporate insiders own 11.10% of the company’s stock.

Danaher Trading Up 0.9 %

Shares of Danaher stock opened at $269.31 on Friday. The company has a 50 day simple moving average of $260.05 and a two-hundred day simple moving average of $255.10. The firm has a market cap of $199.47 billion, a PE ratio of 45.65, a PEG ratio of 4.62 and a beta of 0.83. Danaher Co. has a 1 year low of $182.09 and a 1 year high of $281.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts expect that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

About Danaher

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.