Procyon Advisors LLC Sells 4,613 Shares of Danaher Co. (NYSE:DHR)

Procyon Advisors LLC lessened its holdings in Danaher Co. (NYSE:DHR - Free Report) by 56.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,598 shares of the conglomerate's stock after selling 4,613 shares during the quarter. Procyon Advisors LLC's holdings in Danaher were worth $738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DHR. Heck Capital Advisors LLC bought a new position in shares of Danaher during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in Danaher in the 4th quarter valued at $31,000. Hurley Capital LLC bought a new stake in shares of Danaher during the 4th quarter valued at $34,000. Pineridge Advisors LLC grew its holdings in shares of Danaher by 63.3% during the 4th quarter. Pineridge Advisors LLC now owns 147 shares of the conglomerate's stock worth $34,000 after purchasing an additional 57 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of Danaher in the fourth quarter worth $34,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 now owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Paul Riley sold 15,805 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president now directly owns 15,179 shares in the company, valued at approximately $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

DHR has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. JPMorgan Chase & Co. decreased their price objective on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim restated a "buy" rating and set a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reduced their target price on Danaher from $231.00 to $225.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $263.24.

Danaher Price Performance

Shares of DHR opened at $196.13 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31. The stock has a market cap of $140.36 billion, a PE ratio of 37.15, a PEG ratio of 2.66 and a beta of 0.77. Danaher Co. has a 12-month low of $171.00 and a 12-month high of $281.70. The business has a 50-day simple moving average of $191.34 and a two-hundred day simple moving average of $212.19.

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 the consensus estimate of $1.62 by $0.26. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. Analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.65%. Danaher's dividend payout ratio (DPR) is presently 24.85%.

About Danaher

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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