Zurich Insurance Group Ltd FI Grows Stock Holdings in Danaher Co. (NYSE:DHR)

Zurich Insurance Group Ltd FI grew its holdings in shares of Danaher Co. (NYSE:DHR) by 31.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 136,898 shares of the conglomerate’s stock after purchasing an additional 32,918 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Danaher were worth $19,565,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DHR. MBM Wealth Consultants LLC raised its holdings in Danaher by 2.0% in the 2nd quarter. MBM Wealth Consultants LLC now owns 3,701 shares of the conglomerate’s stock worth $529,000 after acquiring an additional 74 shares during the last quarter. Mechanics Bank Trust Department grew its position in Danaher by 1.7% in the 2nd quarter. Mechanics Bank Trust Department now owns 4,384 shares of the conglomerate’s stock worth $627,000 after purchasing an additional 75 shares during the period. Adirondack Trust Co. grew its position in Danaher by 3.1% in the 1st quarter. Adirondack Trust Co. now owns 2,635 shares of the conglomerate’s stock worth $349,000 after purchasing an additional 78 shares during the period. Cornerstone Advisors Inc. grew its position in Danaher by 2.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,783 shares of the conglomerate’s stock worth $367,000 after purchasing an additional 79 shares during the period. Finally, Copperwynd Financial LLC grew its position in Danaher by 1.9% in the 2nd quarter. Copperwynd Financial LLC now owns 4,144 shares of the conglomerate’s stock worth $592,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.

Shares of DHR stock traded up $0.89 during mid-day trading on Friday, reaching $146.64. 1,947,829 shares of the company’s stock traded hands, compared to its average volume of 1,995,961. Danaher Co. has a 12 month low of $94.59 and a 12 month high of $146.93. The firm has a 50 day moving average price of $140.13 and a two-hundred day moving average price of $135.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32. The firm has a market capitalization of $102.10 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.57 and a beta of 0.94.

Danaher (NYSE:DHR) last released its earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Danaher had a net margin of 12.22% and a return on equity of 11.53%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the company earned $1.15 EPS. Danaher’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Danaher Co. will post 4.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, September 26th. Danaher’s dividend payout ratio (DPR) is 15.04%.

In related news, insider Thomas Patrick Joyce, Jr. sold 70,544 shares of Danaher stock in a transaction on Friday, July 19th. The shares were sold at an average price of $141.77, for a total transaction of $10,001,022.88. Following the transaction, the insider now owns 271,023 shares in the company, valued at approximately $38,422,930.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian W. Ellis sold 1,010 shares of Danaher stock in a transaction on Friday, July 26th. The shares were sold at an average price of $144.04, for a total transaction of $145,480.40. Following the transaction, the insider now owns 20,889 shares in the company, valued at approximately $3,008,851.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,202 shares of company stock worth $25,175,829. 11.40% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on the stock. Piper Jaffray Companies lifted their target price on shares of Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $155.00 target price (up previously from $142.00) on shares of Danaher in a research report on Friday, July 19th. Royal Bank of Canada set a $134.00 target price on shares of Danaher and gave the stock a “hold” rating in a research report on Friday, July 19th. Argus boosted their price objective on shares of Danaher to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research assumed coverage on shares of Danaher in a research report on Thursday, May 30th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $143.54.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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