Danaher Co. (NYSE:DHR) Short Interest Up 13.6% in October


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Danaher Co. (NYSE:DHR) saw a large increase in short interest during the month of October. As of October 30th, there was short interest totalling 6,020,000 shares, an increase of 13.6% from the October 15th total of 5,300,000 shares. Based on an average daily trading volume, of 2,170,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.0% of the company’s stock are sold short.

DHR has been the subject of several research analyst reports. Robert W. Baird lifted their target price on Danaher from $205.00 to $252.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. KeyCorp assumed coverage on shares of Danaher in a research report on Monday, November 9th. They issued an “overweight” rating and a $280.00 price objective on the stock. UBS Group lifted their target price on shares of Danaher from $176.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Wells Fargo & Company reiterated a “buy” rating and issued a $234.00 price target on shares of Danaher in a research note on Tuesday, September 29th. Finally, Needham & Company LLC raised their price objective on shares of Danaher from $209.00 to $272.00 in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $217.19.

NYSE:DHR traded down $0.07 during trading hours on Friday, reaching $225.76. 2,353,100 shares of the company were exchanged, compared to its average volume of 2,864,974. The business has a 50 day moving average of $229.08 and a 200 day moving average of $197.58. Danaher has a 1-year low of $119.60 and a 1-year high of $248.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.08 and a quick ratio of 1.68. The company has a market capitalization of $160.37 billion, a P/E ratio of 45.70, a P/E/G ratio of 2.95 and a beta of 0.84.

Danaher (NYSE:DHR) last released its earnings results on Thursday, October 22nd. The conglomerate reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.36. Danaher had a return on equity of 12.94% and a net margin of 18.05%. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the company posted $1.06 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Danaher will post 6.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, September 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.72 dividend on an annualized basis and a yield of 0.32%. Danaher’s payout ratio is 16.29%.

In related news, SVP Angela S. Lalor sold 38,954 shares of Danaher stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $205.00, for a total transaction of $7,985,570.00. Following the completion of the transaction, the senior vice president now owns 52,445 shares in the company, valued at $10,751,225. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Angela S. Lalor sold 77,909 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $205.50, for a total value of $16,010,299.50. Following the transaction, the senior vice president now directly owns 52,445 shares in the company, valued at approximately $10,777,447.50. The disclosure for this sale can be found here. In the last three months, insiders sold 224,248 shares of company stock valued at $49,077,431. 11.70% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Derby & Company Inc. lifted its holdings in shares of Danaher by 1.1% during the 3rd quarter. Derby & Company Inc. now owns 4,278 shares of the conglomerate’s stock worth $921,000 after acquiring an additional 47 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Danaher by 2.2% in the 3rd quarter. IHT Wealth Management LLC now owns 2,212 shares of the conglomerate’s stock valued at $476,000 after purchasing an additional 48 shares in the last quarter. Covenant Asset Management LLC boosted its stake in Danaher by 1.8% in the second quarter. Covenant Asset Management LLC now owns 2,992 shares of the conglomerate’s stock valued at $529,000 after buying an additional 52 shares in the last quarter. Baystate Wealth Management LLC grew its position in Danaher by 2.6% in the second quarter. Baystate Wealth Management LLC now owns 2,024 shares of the conglomerate’s stock valued at $358,000 after acquiring an additional 52 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Danaher by 3.5% during the third quarter. Wedge Capital Management L L P NC now owns 1,564 shares of the conglomerate’s stock worth $337,000 after acquiring an additional 53 shares in the last quarter. 69.16% of the stock is currently owned by hedge funds and other institutional investors.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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