RedJay Asset Management Inc. Makes New $5.74 Million Investment in Danaher Co. (NYSE:DHR)

RedJay Asset Management Inc. acquired a new position in shares of Danaher Co. (NYSE:DHR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,000 shares of the conglomerate's stock, valued at approximately $5,739,000. Danaher makes up about 3.5% of RedJay Asset Management Inc.'s portfolio, making the stock its 16th biggest holding.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Danaher in the 4th quarter valued at about $2,130,740,000. Raymond James Financial Inc. acquired a new position in Danaher during the fourth quarter worth approximately $391,172,000. Two Sigma Advisers LP lifted its stake in Danaher by 4,248.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock valued at $376,347,000 after buying an additional 1,601,800 shares during the last quarter. Capital World Investors boosted its holdings in shares of Danaher by 32.7% in the fourth quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock valued at $1,460,215,000 after acquiring an additional 1,566,658 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Danaher by 460.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,348,544 shares of the conglomerate's stock valued at $309,558,000 after acquiring an additional 1,107,998 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Trading Down 0.8%

DHR stock traded down $1.48 during midday trading on Friday, reaching $188.99. 1,153,630 shares of the company's stock traded hands, compared to its average volume of 4,314,136. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.05. Danaher Co. has a fifty-two week low of $171.00 and a fifty-two week high of $281.70. The business has a 50-day moving average price of $193.18 and a two-hundred day moving average price of $214.13. The company has a market capitalization of $135.26 billion, a P/E ratio of 35.79, a PEG ratio of 2.66 and a beta of 0.80.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. Danaher had a net margin of 16.33% and a return on equity of 10.82%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.58 billion. Equities research analysts forecast that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.68%. Danaher's payout ratio is 24.85%.

Insider Activity

In other news, EVP Christopher Paul Riley sold 15,805 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 15,179 shares in the company, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction dated 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 sale, the chairman now directly owns 3,105,808 shares of the company's stock, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on DHR shares. Raymond James reissued a "market perform" rating on shares of Danaher in a research report on Monday, February 3rd. Wall Street Zen lowered Danaher from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Danaher in a research note on Wednesday, April 23rd. Stifel Nicolaus upgraded Danaher from a "hold" rating to a "buy" rating and set a $260.00 target price on the stock in a research note on Friday, March 14th. Finally, Jefferies Financial Group cut their price target on Danaher from $260.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and a consensus target price of $263.24.

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.