Tredje AP fonden increased its stake in shares of Danaher Co. (NYSE:DHR) by 110.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 110,230 shares of the conglomerate’s stock after buying an additional 57,885 shares during the quarter. Tredje AP fonden’s holdings in Danaher were worth $9,984,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. grew its position in shares of Danaher by 4.4% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,678 shares of the conglomerate’s stock valued at $232,000 after acquiring an additional 71 shares during the period. National Asset Management Inc. raised its holdings in shares of Danaher by 55.1% in the 1st quarter. National Asset Management Inc. now owns 2,914 shares of the conglomerate’s stock worth $404,000 after purchasing an additional 1,035 shares during the period. Toroso Investments LLC lifted its stake in Danaher by 61.7% in the first quarter. Toroso Investments LLC now owns 2,713 shares of the conglomerate’s stock valued at $376,000 after purchasing an additional 1,035 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Danaher in the first quarter valued at approximately $263,000. Finally, Front Row Advisors LLC grew its holdings in Danaher by 6.1% during the first quarter. Front Row Advisors LLC now owns 13,616 shares of the conglomerate’s stock valued at $2,226,000 after purchasing an additional 786 shares during the period. Institutional investors and hedge funds own 77.88% of the company’s stock.
A number of research analysts have recently commented on the company. Needham & Company LLC dropped their price target on Danaher from $187.00 to $183.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Robert W. Baird reaffirmed a “buy” rating and set a $136.00 price objective on shares of Danaher in a report on Monday, March 23rd. Citigroup increased their target price on shares of Danaher from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wolfe Research lowered shares of Danaher from an “outperform” rating to a “market perform” rating and set a $154.00 price target on the stock. in a research report on Thursday, April 2nd. Finally, Wells Fargo & Co raised their price objective on shares of Danaher from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Danaher presently has a consensus rating of “Buy” and a consensus price target of $168.69.
Danaher (NYSE:DHR) last released its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Danaher had a net margin of 16.85% and a return on equity of 11.52%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. As a group, research analysts anticipate that Danaher Co. will post 4.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.72 dividend on an annualized basis and a yield of 0.46%. Danaher’s dividend payout ratio is currently 16.29%.
In related news, Chairman Mitchell P. Rales purchased 1,226 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $163.00 per share, with a total value of $199,838.00. Following the acquisition, the chairman now directly owns 2,236,454 shares of the company’s stock, valued at $364,542,002. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Robert S. Lutz sold 33,892 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $161.68, for a total transaction of $5,479,658.56. Following the sale, the chief accounting officer now owns 18,950 shares in the company, valued at approximately $3,063,836. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,974 shares of company stock worth $11,564,444. Insiders own 11.70% of the company’s stock.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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