Steinberg Global Asset Management Acquires 2,160 Shares of Danaher Corporation (DHR)
Steinberg Global Asset Management raised its position in Danaher Corporation (NYSE:DHR) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,399 shares of the conglomerate’s stock after buying an additional 2,160 shares during the period. Steinberg Global Asset Management’s holdings in Danaher Corporation were worth $1,215,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of DHR. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Danaher Corporation during the first quarter worth approximately $567,000. Diversified Trust Co raised its position in Danaher Corporation by 1.1% in the first quarter. Diversified Trust Co now owns 4,812 shares of the conglomerate’s stock valued at $412,000 after buying an additional 52 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Danaher Corporation by 24.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 57,118 shares of the conglomerate’s stock valued at $4,886,000 after buying an additional 11,375 shares in the last quarter. Nationwide Fund Advisors raised its position in Danaher Corporation by 16.8% in the first quarter. Nationwide Fund Advisors now owns 318,223 shares of the conglomerate’s stock valued at $27,218,000 after buying an additional 45,820 shares in the last quarter. Finally, Patriot Wealth Management Inc. raised its position in Danaher Corporation by 3.2% in the first quarter. Patriot Wealth Management Inc. now owns 66,500 shares of the conglomerate’s stock valued at $5,688,000 after buying an additional 2,066 shares in the last quarter. 75.74% of the stock is owned by institutional investors.
Shares of Danaher Corporation (NYSE:DHR) opened at 82.37 on Tuesday. The stock has a market capitalization of $57.22 billion, a price-to-earnings ratio of 26.29 and a beta of 1.03. The stock’s 50 day moving average is $82.08 and its 200-day moving average is $84.16. Danaher Corporation has a one year low of $75.71 and a one year high of $88.01.
Danaher Corporation (NYSE:DHR) last issued its earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The company had revenue of $4.51 billion for 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 firm’s 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 earnings per share. On average, equities research analysts predict that Danaher Corporation will post $3.95 EPS for the current fiscal year.
Several equities analysts have issued reports on DHR shares. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub raised shares of Danaher Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. set a $96.00 price target on shares of Danaher Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $88.00 price target on shares of Danaher Corporation in a report on Wednesday, July 12th. Finally, Wells Fargo & Company started coverage on shares of Danaher Corporation in a report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.76.
In other news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the completion of the transaction, the insider now owns 155,520 shares in the company, valued at $12,718,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William King sold 7,458 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following the transaction, the insider now owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. Insiders have sold 27,808 shares of company stock valued at $2,296,236 in the last 90 days. 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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