Genesee Capital Advisors LLC recently reduced its stake in Danaher Co. (NYSE:DHR) by 88.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund now owns 887 shares of the conglomerate’s stock, down from 6,758 shares. The value of Genesee Capital Advisors LLC’s holdings in Danaher was worth $213,000 at the end of the quarter.
In addition to Genesee Capital Advisors LLC, several other institutional investors also made changes to their positions in Danaher. AM Investment Strategies LLC increased its position in the company by 1.5% in the first quarter, M&R Capital Management Inc. boosted its stake by 0.5% in the first quarter, Silver Oak Securities Incorporated boosted its stake by 4.3% in the first quarter, and Bank Pictet & Cie Asia Ltd. boosted its stake by 1.9% in the fourth quarter. Lathrop Investment Management Corp also increased its stake in Danaher by 2.2% in the first quarter. Overall, 76.71% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In recent news, Director Teri List sold 3,490 shares of Danaher stock on July 26th for a total transaction value of $918,917. Following the sale, Director Teri List now owns 17,494 shares in the company, valued at approximately $4,606,170.20. Another insider, SVP Daniel Raskas, sold 11,213 shares of the stock on July 28th for a total transaction value of $2,922,668.45. Following the sale, Raskas now owns 38,288 shares in the company, worth approximately $9,979,767.20. In the past 90 days, insiders have sold a total of 47,922 shares of Danaher stock, worth $12,552,233. Corporate insiders currently own 11.10% of the company’s stock.
Danaher Stock Performance
Shares of Danaher Co. traded down $1.26 during mid-day trading on Friday, reaching $248.37. The company has a 52-week low of $221.22 and a 52-week high of $283.63. The stock has a 50-day simple moving average of $254.85 and a 200-day simple moving average of $245.22. Danaher has a market cap of $183.38 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.69, and a beta of 0.80. The company has a quick ratio of 1.70, a current ratio of 2.08, and a debt-to-equity ratio of 0.35.
Danaher Dividend Announcement
The firm announced a quarterly dividend, to be paid on October 27th to stockholders of record on October 12th. The dividend payout will be $0.27 per share, representing an annualized dividend of $1.08 and a dividend yield of 0.43%. The current dividend payout ratio is 12.68%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on DHR. Royal Bank of Canada increased their target price on shares of Danaher from $260.00 to $292.00, while Bank of America increased their target price from $250.00 to $280.00. Raymond James also raised their target price from $270.00 to $290.00 and gave the stock an “outperform” rating. Stifel Nicolaus, however, reduced their price objective on shares of Danaher from $250.00 to $240.00 and set a “hold” rating for the company. Barclays, on the other hand, increased their price objective from $260.00 to $290.00 and gave the stock an “overweight” rating. Overall, Danaher currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.79.
About Danaher
Danaher Co. is a conglomerate company that designs, manufactures, and markets professional, medical, industrial, and commercial products globally. The company reported earnings of $2.05 per share for the quarter, beating the consensus estimate of $2.01 per share. Danaher’s revenue for the quarter was $7.16 billion, compared to analysts’ expectations of $7.12 billion. The company’s net margin is 20.95% and it has a return on equity of 15.03%. On average, equities research analysts project that Danaher will post earnings per share of $8.83 for the current year.
Sources:
– Securities & Exchange Commission
– Genesee Capital Advisors LLC
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