Riverhead Capital Management LLC cut its stake in Danaher Co. (NYSE:DHR) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,765 shares of the conglomerate’s stock after selling 4,359 shares during the quarter. Riverhead Capital Management LLC’s holdings in Danaher were worth $3,452,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fort L.P. bought a new stake in Danaher during the second quarter valued at $119,000. Braun Bostich & Associates Inc. boosted its stake in Danaher by 506.4% during the second quarter. Braun Bostich & Associates Inc. now owns 1,225 shares of the conglomerate’s stock valued at $121,000 after buying an additional 1,023 shares during the period. Reilly Financial Advisors LLC boosted its stake in Danaher by 62.6% during the third quarter. Reilly Financial Advisors LLC now owns 1,301 shares of the conglomerate’s stock valued at $141,000 after buying an additional 501 shares during the period. NEXT Financial Group Inc bought a new stake in Danaher during the third quarter valued at $166,000. Finally, Bartlett & Co. LLC boosted its stake in Danaher by 187.2% during the third quarter. Bartlett & Co. LLC now owns 1,611 shares of the conglomerate’s stock valued at $175,000 after buying an additional 1,050 shares during the period. Institutional investors own 77.13% of the company’s stock.
In other Danaher news, CFO Daniel L. Comas sold 36,000 shares of Danaher stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $103.88, for a total transaction of $3,739,680.00. Following the completion of the sale, the chief financial officer now owns 124,218 shares of the company’s stock, valued at $12,903,765.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald J. Ehrlich sold 10,578 shares of Danaher stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $95.77, for a total value of $1,013,055.06. Following the sale, the director now directly owns 105,491 shares of the company’s stock, valued at approximately $10,102,873.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,007 shares of company stock valued at $15,202,163. Corporate insiders own 11.90% of the company’s stock.
Shares of DHR stock opened at $101.87 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.53 and a quick ratio of 1.08. Danaher Co. has a 12-month low of $91.84 and a 12-month high of $110.86. The stock has a market cap of $73.50 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.02 and a beta of 1.06.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.03. Danaher had a return on equity of 11.59% and a net margin of 14.07%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Danaher Co. will post 4.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, December 28th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, December 27th. Danaher’s dividend payout ratio (DPR) is currently 15.88%.
DHR has been the subject of several research analyst reports. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Morgan Stanley lifted their price objective on Danaher from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, October 10th. Finally, Robert W. Baird dropped their price objective on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Danaher currently has a consensus rating of “Buy” and a consensus price target of $112.14.
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Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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