Skye Global Management LP Purchases 9,200 Shares of Danaher Co. (NYSE:DHR)

Skye Global Management LP boosted its holdings in Danaher Co. (NYSE:DHR) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,000 shares of the conglomerate’s stock after acquiring an additional 9,200 shares during the quarter. Danaher accounts for approximately 1.0% of Skye Global Management LP’s holdings, making the stock its 15th largest position. Skye Global Management LP’s holdings in Danaher were worth $39,479,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. lifted its holdings in shares of Danaher by 1.8% during the second quarter. Benjamin Edwards Inc. now owns 2,153 shares of the conglomerate’s stock valued at $538,000 after purchasing an additional 38 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Danaher by 3.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate’s stock valued at $342,000 after acquiring an additional 38 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in shares of Danaher by 3.4% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,230 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 40 shares during the period. Trust Co of Kansas raised its holdings in shares of Danaher by 4.1% during the second quarter. Trust Co of Kansas now owns 1,022 shares of the conglomerate’s stock valued at $255,000 after purchasing an additional 40 shares during the last quarter. Finally, Abacus Planning Group Inc. boosted its holdings in Danaher by 0.7% in the second quarter. Abacus Planning Group Inc. now owns 5,439 shares of the conglomerate’s stock worth $1,359,000 after purchasing an additional 40 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Trading Up 1.0 %

NYSE:DHR opened at $238.83 on Friday. The firm has a market cap of $172.50 billion, a P/E ratio of 45.58, a P/E/G ratio of 4.39 and a beta of 0.85. Danaher Co. has a one year low of $215.68 and a one year high of $281.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The firm has a 50-day simple moving average of $255.25 and a 200-day simple moving average of $259.52.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter last year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio is presently 20.61%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DHR shares. Raymond James lowered their price target on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company started coverage on shares of Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $315.00 target price on shares of Danaher in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp upped their price objective on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.16.

Danaher Profile

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.