Zions Bancorporation National Association UT Buys Shares of 3,253 Danaher Corporation (NYSE:DHR)

Key Points

• Zions Bancorporation National Association UT acquired 3,253 shares of Danaher Corporation valued at approximately $667,000 in the first quarter, adding to increasing institutional interest in the stock.
• Danaher’s Chairman, Steven M. Rales, sold 1,250,000 shares in May for $245 million, reducing his stake by 28.70% but still holding over 3 million shares worth about $611 million.
• Analyst ratings for Danaher show an average rating of "Moderate Buy" with a consensus price target of $247.61, reflecting strong confidence in the company's performance.

Zions Bancorporation National Association UT bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,253 shares of the conglomerate's stock, valued at approximately $667,000.

Several other hedge funds have also bought and sold shares of the stock. National Bank of Canada FI lifted its position in Danaher by 54.3% during the first quarter. National Bank of Canada FI now owns 628,625 shares of the conglomerate's stock valued at $128,864,000 after purchasing an additional 221,287 shares during the last quarter. Hirtle Callaghan & Co LLC bought a new stake in Danaher during the first quarter valued at approximately $1,078,000. AMF Tjanstepension AB lifted its position in Danaher by 707.0% during the first quarter. AMF Tjanstepension AB now owns 171,931 shares of the conglomerate's stock valued at $35,253,000 after purchasing an additional 150,627 shares during the last quarter. AlphaCore Capital LLC raised its stake in shares of Danaher by 168.9% during the first quarter. AlphaCore Capital LLC now owns 9,766 shares of the conglomerate's stock worth $2,002,000 after acquiring an additional 6,134 shares in the last quarter. Finally, Fayez Sarofim & Co raised its stake in shares of Danaher by 2.0% during the first quarter. Fayez Sarofim & Co now owns 8,454 shares of the conglomerate's stock worth $1,733,000 after acquiring an additional 167 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Insider Transactions at Danaher

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction 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 transaction, the chairman directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.10% of the company's stock.

Wall Street Analyst Weigh In

DHR has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price target on shares of Danaher in a research note on Wednesday, April 23rd. Evercore ISI decreased their price target on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. TD Cowen lifted their price target on shares of Danaher from $240.00 to $248.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Guggenheim reissued a "buy" rating and set a $250.00 price target on shares of Danaher in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of Danaher from $260.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Danaher presently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

Danaher Stock Up 1.1%

Shares of Danaher stock opened at $200.70 on Friday. 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 company's fifty day simple moving average is $198.46 and its two-hundred day simple moving average is $200.94. The company has a market cap of $143.71 billion, a P/E ratio of 42.70, a PEG ratio of 2.80 and a beta of 0.73. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. Research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

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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