Skye Global Management LP Purchases 30,000 Shares of Danaher Co. (NYSE:DHR)

Skye Global Management LP lifted its position in shares of Danaher Co. (NYSE:DHR) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,000 shares of the conglomerate’s stock after purchasing an additional 30,000 shares during the quarter. Danaher accounts for 0.8% of Skye Global Management LP’s portfolio, making the stock its 20th largest position. Skye Global Management LP’s holdings in Danaher were worth $39,483,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DHR. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Danaher by 11.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,233 shares of the conglomerate’s stock valued at $4,874,000 after purchasing an additional 2,202 shares during the period. FAS Wealth Partners Inc. raised its holdings in shares of Danaher by 20.6% during the fourth quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate’s stock worth $2,203,000 after acquiring an additional 1,639 shares during the period. Generate Investment Management Ltd bought a new stake in Danaher in the 4th quarter valued at $8,044,000. Compass Capital Management Inc. boosted its stake in Danaher by 4.8% in the 4th quarter. Compass Capital Management Inc. now owns 237,922 shares of the conglomerate’s stock worth $54,615,000 after purchasing an additional 10,994 shares during the period. Finally, Channing Global Advisors LLC raised its stake in shares of Danaher by 42.8% in the 4th quarter. Channing Global Advisors LLC now owns 5,666 shares of the conglomerate’s stock valued at $1,301,000 after purchasing an additional 1,698 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Trading Up 1.6%

Shares of NYSE:DHR opened at $190.87 on Friday. Danaher Co. has a 12-month low of $171.00 and a 12-month high of $281.70. The business has a 50 day moving average of $197.06 and a 200-day moving average of $217.96. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31. The stock has a market cap of $136.60 billion, a PE ratio of 36.15, a P/E/G ratio of 2.66 and a beta of 0.80.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. As a group, equities research analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.67%. Danaher’s dividend payout ratio (DPR) is presently 24.85%.

Analysts Set New Price Targets

DHR has been the subject of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of Danaher in a research report on Monday, April 7th. Guggenheim reaffirmed a “buy” rating and set a $250.00 price target on shares of Danaher in a research report on Wednesday, April 23rd. Raymond James reaffirmed a “market perform” rating on shares of Danaher in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Danaher from $280.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Danaher has an average rating of “Moderate Buy” and an average price target of $264.40.

Insider Buying and Selling at Danaher

In other Danaher news, EVP Christopher Paul Riley sold 15,805 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the sale, the executive vice president now owns 15,179 shares of the company’s stock, valued at $3,005,442. This trade represents a 51.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the transaction, the chairman now owns 3,105,808 shares of the company’s stock, valued at $611,036,665.92. This trade represents a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Danaher Company 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.