Danaher Corporation (NYSE:DHR) Shares Acquired by Elefante Mark B

Key Points

• Elefante Mark B increased its stake in Danaher Corporation by 24.9%, owning 18,649 shares valued at $3,823,000, making it the fund's 14th largest investment.
• Several institutional investors, including Norges Bank and GAMMA Investing LLC, have significantly increased their positions in Danaher, contributing to 79.05% institutional ownership of the stock.
• Danaher Corp. recently reported $1.80 EPS for Q2, exceeding analyst estimates, and declared a quarterly dividend of $0.32 per share, with a 0.62% yield.

Elefante Mark B grew its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 24.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 18,649 shares of the conglomerate's stock after acquiring an additional 3,716 shares during the period. Danaher comprises about 3.0% of Elefante Mark B's holdings, making the stock its 14th largest holding. Elefante Mark B's holdings in Danaher were worth $3,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortis Capital Advisors LLC lifted its position in Danaher by 1.3% in the 4th quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate's stock valued at $914,000 after acquiring an additional 50 shares in the last quarter. Fayez Sarofim & Co lifted its position in Danaher by 0.6% in the 4th quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate's stock valued at $1,902,000 after acquiring an additional 50 shares in the last quarter. Coastal Bridge Advisors LLC lifted its position in Danaher by 4.8% in the 4th quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock valued at $252,000 after acquiring an additional 50 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in Danaher by 2.2% in the 4th quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock valued at $538,000 after acquiring an additional 51 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in Danaher by 1.3% in the 4th quarter. MGO One Seven LLC now owns 4,285 shares of the conglomerate's stock valued at $984,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DHR. Jefferies Financial Group lowered their price objective on Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Bank of America lowered their price objective on Danaher from $265.00 to $230.00 in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Guggenheim reissued a "buy" rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, July 23rd. Finally, HSBC lowered their price target on Danaher from $270.00 to $240.00 in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Danaher presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.61.

Insider Buying and Selling

In related news, EVP Christopher Paul Riley sold 15,805 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the transaction, the executive vice president owned 15,179 shares of the company's stock, valued at $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the transaction, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. This trade represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company's stock.

Danaher Trading Down 0.1%

Shares of NYSE DHR traded down $0.23 during trading hours on Monday, reaching $205.25. The stock had a trading volume of 2,710,596 shares, compared to its average volume of 4,259,632. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The firm has a market cap of $146.97 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 2.86 and a beta of 0.77. The business's fifty day moving average price is $196.38 and its two-hundred day moving average price is $203.44. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. Danaher's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 earnings per share. Analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, June 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.62%. Danaher's dividend payout ratio (DPR) is 27.23%.

Danaher 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.