1832 Asset Management L.P. Cuts Position in Danaher Co. (NYSE:DHR)

1832 Asset Management L.P. decreased its holdings in Danaher Co. (NYSE:DHR) by 0.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 721,059 shares of the conglomerate’s stock after selling 6,109 shares during the period. 1832 Asset Management L.P.’s holdings in Danaher were worth $180,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DHR. Cape Investment Advisory Inc. purchased a new position in Danaher in the fourth quarter valued at approximately $25,000. Tsfg LLC raised its holdings in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after buying an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new position in Danaher in the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in Danaher in the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Danaher in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insiders Place Their Bets

In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total value of $2,641,536.00. Following the completion of the transaction, the senior vice president now owns 20,230 shares of the company’s stock, valued at $5,566,486.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total value of $2,641,536.00. Following the completion of the transaction, the senior vice president now owns 20,230 shares of the company’s stock, valued at $5,566,486.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the completion of the transaction, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The disclosure for this sale can be found here. Insiders sold a total of 39,659 shares of company stock valued at $11,042,433 over the last 90 days. 11.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DHR shares. Barclays raised their price target on shares of Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Bank of America lifted their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI dropped their price objective on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.94.

Danaher Stock Down 1.4 %

Shares of NYSE:DHR opened at $272.63 on Friday. The firm has a market cap of $201.93 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 4.48 and a beta of 0.83. The company has a fifty day simple moving average of $267.62 and a 200 day simple moving average of $257.16. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, equities research analysts anticipate that Danaher Co. will post 7.59 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, September 27th. Danaher’s dividend payout ratio is presently 18.31%.

Danaher Company Profile

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.