RFG Advisory LLC grew its stake in shares of Danaher Co. (NYSE:DHR - Free Report) by 92.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,330 shares of the conglomerate's stock after acquiring an additional 5,914 shares during the quarter. RFG Advisory LLC's holdings in Danaher were worth $2,528,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Danaher by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate's stock worth $13,715,641,000 after buying an additional 315,912 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Danaher by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate's stock valued at $3,056,996,000 after acquiring an additional 315,446 shares during the period. Norges Bank purchased a new position in Danaher in the 4th quarter worth $2,130,740,000. Bank of New York Mellon Corp grew its stake in Danaher by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 8,589,019 shares of the conglomerate's stock valued at $1,971,609,000 after purchasing an additional 441,012 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Danaher by 14.3% in the fourth quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock valued at $1,821,477,000 after purchasing an additional 992,594 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on DHR shares. HSBC decreased their target price on Danaher from $270.00 to $240.00 in a report on Friday, April 25th. Robert W. Baird cut their price objective on shares of Danaher from $231.00 to $225.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus raised shares of Danaher from a "hold" rating to a "buy" rating and set a $260.00 target price for the company in a report on Friday, March 14th. Finally, Barclays raised their price objective on Danaher from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $263.24.
Check Out Our Latest Analysis on DHR
Danaher Price Performance
Shares of DHR traded up $3.72 during trading hours on Friday, reaching $195.87. The company had a trading volume of 1,807,185 shares, compared to its average volume of 3,473,797. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. Danaher Co. has a 12-month low of $171.00 and a 12-month high of $281.70. The firm has a 50 day simple moving average of $191.42 and a 200-day simple moving average of $212.58. The company has a market capitalization of $140.18 billion, a price-to-earnings ratio of 37.07, 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. The company had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.58 billion. Danaher had a net margin of 16.33% and a return on equity of 10.82%. Research analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.
Danaher Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.65%. Danaher's payout ratio is 24.85%.
Insider Buying and Selling at Danaher
In other news, Chairman Steven M. Rales sold 1,250,000 shares of the company's stock in a transaction on 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 sale, the chairman now directly owns 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the sale, the executive vice president now owns 15,179 shares of the company's stock, valued at approximately $3,005,442. This represents a 51.01% decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
Danaher Profile
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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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