Cloud Capital Management LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,028 shares of the conglomerate's stock, valued at approximately $416,000.
Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Danaher by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate's stock valued at $13,715,641,000 after buying an additional 315,912 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Danaher by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate's stock valued at $3,056,996,000 after buying an additional 315,446 shares during the last quarter. Norges Bank purchased a new position in shares of Danaher during the fourth quarter valued at approximately $2,130,740,000. Bank of New York Mellon Corp boosted its position in shares of Danaher by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock valued at $1,800,614,000 after buying an additional 194,466 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Danaher by 14.3% during the fourth quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock valued at $1,821,477,000 after buying an additional 992,594 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.
Insiders Place Their Bets
In related news, EVP Christopher Paul Riley sold 15,805 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the transaction, the executive vice president directly owned 15,179 shares in the company, valued at $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the transaction, the chairman owned 3,105,808 shares of the company's stock, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.10% of the company's stock.
Danaher Stock Performance
Shares of DHR traded up $0.58 during mid-day trading on Friday, hitting $203.08. The stock had a trading volume of 1,390,744 shares, compared to its average volume of 3,499,704. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.05. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $281.70. The firm has a market cap of $145.33 billion, a P/E ratio of 39.43, a PEG ratio of 2.85 and a beta of 0.77. The business has a fifty day moving average price of $195.63 and a 200-day moving average price of $207.23.
Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. Danaher had a return on equity of 10.80% and a net margin of 15.81%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. On average, equities research analysts expect that Danaher Corporation will post 7.63 EPS for the current year.
Danaher Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. Danaher's payout ratio is 24.85%.
Analyst Ratings Changes
Several research analysts recently issued reports on DHR shares. Wells Fargo & Company cut their target price on Danaher from $240.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wolfe Research dropped their price target on Danaher from $275.00 to $220.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Robert W. Baird dropped their price target on Danaher from $231.00 to $225.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on Danaher from $260.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.61.
Read Our Latest Stock Analysis on DHR
About Danaher
(
Free Report)
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.
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