Stralem & Co. Inc. Has $5.92 Million Stock Position in Danaher Co. (NYSE:DHR)

Stralem & Co. Inc. lessened its position in shares of Danaher Co. (NYSE:DHR) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,987 shares of the conglomerate’s stock after selling 5,133 shares during the quarter. Danaher makes up about 3.4% of Stralem & Co. Inc.’s investment portfolio, making the stock its 11th largest position. Stralem & Co. Inc.’s holdings in Danaher were worth $5,920,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new stake in Danaher in the first quarter valued at approximately $182,000. Marshall Wace LLP raised its holdings in Danaher by 2,030.0% in the first quarter. Marshall Wace LLP now owns 120,175 shares of the conglomerate’s stock valued at $15,865,000 after acquiring an additional 114,533 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Danaher by 11.1% in the first quarter. Rehmann Capital Advisory Group now owns 2,014 shares of the conglomerate’s stock valued at $266,000 after acquiring an additional 202 shares in the last quarter. GYL Financial Synergies LLC raised its holdings in Danaher by 36.4% in the first quarter. GYL Financial Synergies LLC now owns 3,582 shares of the conglomerate’s stock valued at $473,000 after acquiring an additional 955 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in Danaher in the first quarter valued at approximately $329,000. 78.44% of the stock is currently owned by institutional investors.

DHR stock traded down $0.12 during midday trading on Wednesday, reaching $137.47. 1,207,989 shares of the company were exchanged, compared to its average volume of 2,288,156. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32. Danaher Co. has a 1-year low of $94.59 and a 1-year high of $147.33. The stock’s 50-day simple moving average is $141.24 and its 200 day simple moving average is $137.54. The company has a market cap of $99.51 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, topping 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 last year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Danaher Co. will post 4.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.68 dividend on an annualized basis and a yield of 0.49%. Danaher’s payout ratio is currently 15.04%.

Several analysts recently weighed in on DHR shares. ValuEngine cut shares of Danaher from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their target price on shares of Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Wolfe Research set a $157.00 target price on shares of Danaher and gave the company a “buy” rating in a report on Thursday, September 26th. Piper Jaffray Companies raised their target price on shares of Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, 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 report on Friday, July 19th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $146.29.

In other news, SVP Angela S. Lalor sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $142.30, for a total transaction of $2,846,000.00. Following the transaction, the senior vice president now directly owns 58,515 shares in the company, valued at $8,326,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Patrick Joyce, Jr. sold 70,544 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was 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 $38,422,930.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,202 shares of company stock worth $25,175,829. 11.40% of the stock is owned by corporate insiders.

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.

Further Reading: Strangles

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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