Reynders McVeigh Capital Management LLC lifted its stake in shares of Danaher Corporation (NYSE:DHR) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 193,293 shares of the conglomerate’s stock after purchasing an additional 14,675 shares during the period. Danaher accounts for 2.2% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Danaher were worth $16,581,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of DHR. Iberiabank Corp purchased a new position in Danaher in the 3rd quarter valued at approximately $381,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Danaher by 9.6% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,717 shares of the conglomerate’s stock valued at $4,265,000 after buying an additional 4,337 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in Danaher in the 3rd quarter valued at approximately $731,000. JPMorgan Chase & Co. grew its stake in Danaher by 86.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,011,947 shares of the conglomerate’s stock valued at $256,136,000 after buying an additional 1,393,165 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Danaher by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 3,119,520 shares of the conglomerate’s stock valued at $267,572,000 after buying an additional 100,429 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.
In other news, Director Donald J. Ehrlich sold 10,578 shares of Danaher stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $90.82, for a total transaction of $960,693.96. Following the completion of the sale, the director now directly owns 104,621 shares of the company’s stock, valued at approximately $9,501,679.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert S. Lutz sold 11,189 shares of Danaher stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $91.66, for a total transaction of $1,025,583.74. Following the sale, the chief accounting officer now directly owns 18,314 shares of the company’s stock, valued at $1,678,661.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,810 shares of company stock valued at $25,218,813. Insiders own 12.20% of the company’s stock.
Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Danaher had a net margin of 13.36% and a return on equity of 11.29%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the firm earned $0.87 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. equities research analysts anticipate that Danaher Corporation will post 3.99 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. Cowen reiterated a “buy” rating and issued a $90.00 price objective on shares of Danaher in a research note on Wednesday, October 4th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 price objective on shares of Danaher in a research note on Friday, September 8th. Robert W. Baird lifted their price objective on shares of Danaher from $87.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Thursday, October 5th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price objective on shares of Danaher in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Danaher has an average rating of “Buy” and an average price target of $93.31.
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Danaher Company 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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