Patrick M Sweeney & Associates Inc. Makes New Investment in Danaher Co. (NYSE:DHR)

Patrick M Sweeney & Associates Inc. acquired a new stake in Danaher Co. (NYSE:DHR) during the 4th quarter, Holdings Channel reports. The firm acquired 1,165 shares of the conglomerate’s stock, valued at approximately $270,000.

A number of other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of Danaher by 18.6% during the third quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock valued at $6,185,203,000 after buying an additional 3,905,449 shares during the last quarter. Northern Trust Corp lifted its stake in Danaher by 1.7% in the 3rd quarter. Northern Trust Corp now owns 8,100,722 shares of the conglomerate’s stock worth $2,009,789,000 after purchasing an additional 134,905 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in shares of Danaher by 1.8% during the 4th quarter. Flossbach Von Storch AG now owns 4,601,351 shares of the conglomerate’s stock valued at $1,064,477,000 after purchasing an additional 82,672 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Danaher by 6.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,227,108 shares of the conglomerate’s stock worth $977,900,000 after purchasing an additional 248,140 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Danaher by 13.2% in the third quarter. Invesco Ltd. now owns 4,070,455 shares of the conglomerate’s stock worth $1,009,880,000 after purchasing an additional 473,693 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Insider Activity

In other Danaher news, Director Walter G. Lohr sold 3,289 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $251.15, for a total transaction of $826,032.35. Following the transaction, the director now directly owns 14,129 shares in the company, valued at approximately $3,548,498.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Alan G. Spoon sold 708 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now directly owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter G. Lohr sold 3,289 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $251.15, for a total transaction of $826,032.35. Following the completion of the transaction, the director now directly owns 14,129 shares of the company’s stock, valued at approximately $3,548,498.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,984 shares of company stock valued at $25,997,094. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James upped their price target on shares of Danaher from $240.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. TD Cowen lifted their price objective on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, KeyCorp increased their price target on shares of Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.31.

Danaher Trading Up 0.6 %

DHR traded up $1.45 during trading hours on Tuesday, reaching $248.85. 1,683,401 shares of the company’s stock traded hands, compared to its average volume of 2,744,101. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $248.27 and a 200 day moving average price of $233.19. Danaher Co. has a 52-week low of $182.09 and a 52-week high of $259.00. The firm has a market capitalization of $184.32 billion, a PE ratio of 42.18, a PEG ratio of 3.82 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.36 earnings per share. As a group, sell-side analysts predict that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.43%. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.