Bank of Nova Scotia increased its holdings in Danaher Corporation (NYSE:DHR) by 30.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,144 shares of the conglomerate’s stock after purchasing an additional 107,763 shares during the quarter. Bank of Nova Scotia owned approximately 0.07% of Danaher Corporation worth $38,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC bought a new stake in shares of Danaher Corporation in the second quarter worth about $101,000. Proficio Capital Partners LLC grew its stake in shares of Danaher Corporation by 92.3% in the first quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 598 shares during the last quarter. Monetary Management Group Inc. grew its stake in shares of Danaher Corporation by 10.7% in the second quarter. Monetary Management Group Inc. now owns 1,550 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 150 shares during the last quarter. Acrospire Investment Management LLC grew its stake in shares of Danaher Corporation by 185.5% in the second quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 1,100 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of Danaher Corporation in the first quarter worth about $157,000. 75.49% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on DHR shares. BidaskClub cut Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Royal Bank Of Canada restated a “hold” rating and issued a $88.00 price objective on shares of Danaher Corporation in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Danaher Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Wells Fargo & Company started coverage on shares of Danaher Corporation in a report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price objective for the company. Finally, Citigroup Inc. set a $96.00 price objective on shares of Danaher Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Danaher Corporation presently has a consensus rating of “Buy” and a consensus target price of $93.31.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.05. Danaher Corporation had a net margin of 13.36% and a return on equity of 11.29%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.60%. Danaher Corporation’s dividend payout ratio is presently 16.52%.
In related news, insider William King sold 43,688 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the completion of the sale, the insider now owns 45,748 shares of the company’s stock, valued at $3,790,679.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.64, for a total transaction of $11,671,620.96. Following the sale, the chief executive officer now directly owns 271,737 shares of the company’s stock, valued at approximately $25,173,715.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,628 shares of company stock worth $25,304,394. Insiders own 12.20% of the company’s stock.
Danaher Corporation Profile
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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