Reliance Trust Co. of Delaware Has $332,000 Position in Danaher Corporation (DHR)
Reliance Trust Co. of Delaware boosted its stake in shares of Danaher Corporation (NYSE:DHR) by 28.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,926 shares of the conglomerate’s stock after buying an additional 878 shares during the period. Reliance Trust Co. of Delaware’s holdings in Danaher Corporation were worth $332,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Peddock Capital Advisors LLC raised its stake in Danaher Corporation by 17.4% in the first quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after buying an additional 181 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Danaher Corporation by 92.3% in the first quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after buying an additional 598 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Danaher Corporation during the first quarter valued at approximately $157,000. Baystate Wealth Management LLC raised its stake in Danaher Corporation by 3.3% in the first quarter. Baystate Wealth Management LLC now owns 1,900 shares of the conglomerate’s stock valued at $163,000 after buying an additional 60 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in Danaher Corporation by 62.0% in the second quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after buying an additional 808 shares during the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Danaher Corporation (NYSE:DHR) opened at 82.14 on Thursday. Danaher Corporation has a 52-week low of $75.71 and a 52-week high of $88.01. The stock’s 50 day moving average price is $82.08 and its 200-day moving average price is $84.16. The stock has a market cap of $57.06 billion, a price-to-earnings ratio of 26.22 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last released its earnings results on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, analysts predict that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
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A number of analysts have issued reports on the company. BidaskClub lowered Danaher Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Citigroup Inc. set a $96.00 target price on Danaher Corporation and gave the company a “buy” rating in a research report on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and issued a $88.00 target price on shares of Danaher Corporation in a research report on Wednesday, July 12th. Finally, Janney Montgomery Scott lowered Danaher Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.76.
In related news, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $83.03, for a total transaction of $878,291.34. Following the completion of the transaction, the director now directly owns 42,151 shares in the company, valued at approximately $3,499,797.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the transaction, the insider now owns 155,520 shares of the company’s stock, valued at $12,718,425.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,808 shares of company stock valued at $2,296,236. Corporate insiders own 12.20% of the company’s stock.
About Danaher Corporation
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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