Canada Pension Plan Investment Board increased its position in shares of Danaher Corporation (NYSE:DHR) by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,467 shares of the conglomerate’s stock after purchasing an additional 150,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Danaher Corporation worth $55,399,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Peddock Capital Advisors LLC raised its holdings in Danaher Corporation by 17.4% in the 1st quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after acquiring an additional 181 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Danaher Corporation by 92.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after acquiring an additional 598 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in Danaher Corporation in the 1st quarter valued at $157,000. Cornerstone Advisors Inc. raised its holdings in Danaher Corporation by 62.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after acquiring an additional 808 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its holdings in Danaher Corporation by 11.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,115 shares of the conglomerate’s stock valued at $181,000 after acquiring an additional 215 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.
Shares of Danaher Corporation (DHR) opened at 88.21 on Friday. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.48. The company’s 50-day moving average price is $82.64 and its 200-day moving average price is $84.22. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 28.16 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts anticipate that Danaher Corporation will post $3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.63%. Danaher Corporation’s payout ratio is 17.83%.
Several equities analysts have weighed in on DHR shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Danaher Corporation in a report on Wednesday, May 24th. Janney Montgomery Scott cut Danaher Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, June 7th. BidaskClub cut Danaher Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Zacks Investment Research cut Danaher Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Danaher Corporation in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Danaher Corporation presently has an average rating of “Buy” and an average target price of $92.72.
In other Danaher Corporation news, insider William King sold 7,458 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following the sale, the insider now owns 18,245 shares in the company, valued at $1,513,787.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.78, for a total value of $799,154.16. Following the sale, the insider now owns 155,520 shares in the company, valued at approximately $12,718,425.60. The disclosure for this sale can be found here. Insiders have sold 71,496 shares of company stock worth $5,916,223 in the last 90 days. Company insiders own 12.20% of the company’s stock.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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