Carderock Capital Management Inc. Sells 12,982 Shares of Danaher Corporation (DHR)
Carderock Capital Management Inc. decreased its position in shares of Danaher Corporation (NYSE:DHR) by 22.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,778 shares of the conglomerate’s stock after selling 12,982 shares during the quarter. Danaher makes up 1.7% of Carderock Capital Management Inc.’s holdings, making the stock its 28th largest holding. Carderock Capital Management Inc.’s holdings in Danaher were worth $3,755,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. GQG Partners LLC purchased a new position in shares of Danaher in the second quarter worth about $101,000. Zions Bancorporation raised its stake in shares of Danaher by 118.3% in the third quarter. Zions Bancorporation now owns 1,231 shares of the conglomerate’s stock worth $106,000 after purchasing an additional 667 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Danaher by 92.3% in the first quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 598 shares during the last quarter. Monetary Management Group Inc. raised its stake in shares of Danaher by 10.7% in the second quarter. Monetary Management Group Inc. now owns 1,550 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 150 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its stake in shares of Danaher by 185.5% in the second quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 1,100 shares during the last quarter. 76.32% of the stock is currently owned by institutional investors.
In related news, CFO Daniel L. Comas sold 88,184 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $91.02, for a total transaction of $8,026,507.68. Following the completion of the transaction, the chief financial officer now directly owns 227,816 shares of the company’s stock, valued at approximately $20,735,812.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.64, for a total value of $11,671,620.96. Following the transaction, the chief executive officer now directly owns 271,737 shares of the company’s stock, valued at $25,173,715.68. The disclosure for this sale can be found here. Insiders sold a total of 273,810 shares of company stock worth $25,218,813 in the last quarter. Company insiders own 12.20% of the company’s stock.
Several research analysts have recently issued reports on the company. Cowen restated 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 set a $95.00 price target on shares of Danaher in a research report on Friday, September 8th. Robert W. Baird lifted their price target on Danaher from $87.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Thursday, October 5th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price objective on shares of Danaher in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $93.31.
Shares of Danaher Corporation (NYSE DHR) opened at $93.18 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $64,816.49, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. Danaher Corporation has a 1 year low of $77.45 and a 1 year high of $94.82.
Danaher (NYSE:DHR) last posted its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. Danaher had a return on equity of 11.29% and a net margin of 13.36%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. equities research analysts expect that Danaher Corporation will post 3.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.60%. Danaher’s dividend payout ratio is presently 16.52%.
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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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