Danaher Co. (DHR) Stake Lowered by Osterweis Capital Management Inc.
Osterweis Capital Management Inc. cut its holdings in Danaher Co. (NYSE:DHR) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 307,651 shares of the conglomerate’s stock after selling 18,660 shares during the quarter. Danaher accounts for 2.1% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Osterweis Capital Management Inc.’s holdings in Danaher were worth $33,429,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of DHR. Bronfman E.L. Rothschild L.P. increased its holdings in Danaher by 7.4% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 23,836 shares of the conglomerate’s stock worth $2,590,000 after purchasing an additional 1,633 shares during the period. Renaissance Technologies LLC boosted its position in shares of Danaher by 87.4% during the 3rd quarter. Renaissance Technologies LLC now owns 3,219,500 shares of the conglomerate’s stock worth $349,831,000 after acquiring an additional 1,501,300 shares in the last quarter. Tekla Capital Management LLC boosted its position in shares of Danaher by 8.6% during the 3rd quarter. Tekla Capital Management LLC now owns 209,371 shares of the conglomerate’s stock worth $22,750,000 after acquiring an additional 16,500 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Danaher by 17.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,198,230 shares of the conglomerate’s stock valued at $130,200,000 after purchasing an additional 180,755 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Danaher by 381.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,100 shares of the conglomerate’s stock valued at $1,315,000 after purchasing an additional 9,585 shares during the period. Institutional investors and hedge funds own 77.13% of the company’s stock.
A number of analysts recently issued reports on DHR shares. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Wednesday, September 19th. Morgan Stanley upped their target price on Danaher from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird decreased their target price on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Danaher presently has an average rating of “Buy” and an average price target of $112.14.
Danaher (NYSE:DHR) last issued its earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. Danaher had a return on equity of 11.59% and a net margin of 14.07%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. As a group, research analysts forecast that Danaher Co. will post 4.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, December 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, December 27th. Danaher’s payout ratio is currently 15.88%.
In other Danaher news, SVP Robert S. Lutz sold 15,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $103.80, for a total transaction of $1,557,000.00. Following the sale, the senior vice president now owns 33,044 shares in the company, valued at approximately $3,429,967.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel L. Comas sold 36,000 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $103.88, for a total value of $3,739,680.00. Following the sale, the chief financial officer now owns 124,218 shares in the company, valued at approximately $12,903,765.84. The disclosure for this sale can be found here. Insiders sold a total of 150,007 shares of company stock valued at $15,202,163 over the last ninety days. 11.90% of the stock is currently owned by company insiders.
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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 laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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