Laurion Capital Management LP purchased a new stake in Danaher Co. (NYSE:DHR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,341 shares of the conglomerate’s stock, valued at approximately $1,702,000.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Danaher by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 49,369,413 shares of the conglomerate’s stock valued at $13,248,776,000 after purchasing an additional 270,880 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Danaher by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,144,018 shares of the conglomerate’s stock valued at $7,234,975,000 after purchasing an additional 786,018 shares during the period. FMR LLC grew its position in shares of Danaher by 0.3% in the 2nd quarter. FMR LLC now owns 28,604,508 shares of the conglomerate’s stock valued at $7,676,306,000 after purchasing an additional 86,302 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Danaher by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,827,622 shares of the conglomerate’s stock valued at $3,337,402,000 after purchasing an additional 480,620 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Danaher by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,016,777 shares of the conglomerate’s stock valued at $2,679,774,000 after purchasing an additional 125,177 shares during the period. 77.52% of the stock is owned by institutional investors.
DHR has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Danaher from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. Barclays upped their price target on Danaher from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. Benchmark began coverage on Danaher in a research report on Friday, July 16th. They set a “buy” rating and a $330.00 price target for the company. Zacks Investment Research raised Danaher from a “hold” rating to a “strong-buy” rating and set a $334.00 price target for the company in a research report on Wednesday, July 28th. Finally, Cowen upped their price target on Danaher from $275.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $321.53.
Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 22nd. The conglomerate reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.41. Danaher had a return on equity of 17.68% and a net margin of 21.00%. The firm had revenue of $7.22 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, equities research analysts anticipate that Danaher Co. will post 9.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, September 29th. Danaher’s payout ratio is 13.31%.
In other news, SVP Brian W. Ellis sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $291.00, for a total transaction of $3,492,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert S. Lutz sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $313.40, for a total value of $1,567,000.00. Following the transaction, the chief accounting officer now owns 21,155 shares of the company’s stock, valued at $6,629,977. The disclosure for this sale can be found here. Insiders have sold 52,477 shares of company stock worth $15,439,958 over the last three months. Insiders own 11.40% of the company’s stock.
Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment 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.
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