Magnolia Capital Advisors LLC Acquires Shares of 19,874 Danaher Co. (NYSE:DHR)

Magnolia Capital Advisors LLC bought a new position in Danaher Co. (NYSE:DHR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,874 shares of the conglomerate’s stock, valued at approximately $4,966,000.

Several other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC bought a new position in shares of Danaher during the second quarter valued at about $363,000. Caden Capital Partners LP lifted its holdings in Danaher by 12.4% in the 4th quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock worth $32,172,000 after buying an additional 15,313 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Danaher in the 4th quarter worth approximately $2,614,000. Norden Group LLC bought a new stake in shares of Danaher in the 1st quarter worth approximately $4,151,000. Finally, Duality Advisers LP purchased a new position in shares of Danaher during the first quarter valued at approximately $5,573,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Georgeann Couchara sold 952 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the transaction, the senior vice president now directly owns 4,212 shares of the company’s stock, valued at $1,130,374.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Danaher news, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 29,407 shares in the company, valued at approximately $8,229,254.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares in the company, valued at $1,130,374.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,659 shares of company stock valued at $11,042,433. Corporate insiders own 11.10% of the company’s stock.

Danaher Price Performance

Shares of NYSE:DHR opened at $275.44 on Friday. The company has a market capitalization of $204.01 billion, a PE ratio of 46.68, a PEG ratio of 4.55 and a beta of 0.83. The business has a fifty day moving average price of $270.23 and a 200-day moving average price of $257.87. 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 issued 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 business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Danaher Co. will post 7.59 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.39%. Danaher’s dividend payout ratio is 18.31%.

Analysts Set New Price Targets

Several research firms recently weighed in on DHR. Leerink Partners lifted their price target on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI cut their target price 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. TD Cowen increased their price target on shares of Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price objective on Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company initiated coverage on Danaher in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $278.94.

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.