Independence Bank of Kentucky purchased a new position in shares of Danaher Co. (NYSE:DHR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,375 shares of the conglomerate’s stock, valued at approximately $685,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Asset Management Inc. boosted its stake in shares of Danaher by 0.4% during the 2nd quarter. National Asset Management Inc. now owns 3,767 shares of the conglomerate’s stock worth $318,000 after acquiring an additional 14 shares in the last quarter. Simmons Bank boosted its stake in Danaher by 0.4% during the 2nd quarter. Simmons Bank now owns 7,160 shares of the conglomerate’s stock valued at $604,000 after purchasing an additional 26 shares during the period. Horizon Investments LLC boosted its stake in Danaher by 0.4% during the 2nd quarter. Horizon Investments LLC now owns 7,828 shares of the conglomerate’s stock valued at $648,000 after purchasing an additional 28 shares during the period. WESPAC Advisors SoCal LLC boosted its stake in Danaher by 1.2% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 4,060 shares of the conglomerate’s stock valued at $342,000 after purchasing an additional 50 shares during the period. Finally, Ashford Capital Management Inc. boosted its stake in Danaher by 1.4% during the 2nd quarter. Ashford Capital Management Inc. now owns 4,942 shares of the conglomerate’s stock valued at $417,000 after purchasing an additional 70 shares during the period. Institutional investors own 75.88% of the company’s stock.
In other news, CFO Daniel L. Comas sold 62,989 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $101.96, for a total value of $6,422,358.44. Following the completion of the transaction, the chief financial officer now directly owns 227,805 shares of the company’s stock, valued at approximately $23,226,997.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Angela S. Lalor sold 42,988 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $102.29, for a total value of $4,397,242.52. Following the completion of the transaction, the senior vice president now directly owns 82,008 shares of the company’s stock, valued at $8,388,598.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,043 shares of company stock valued at $24,194,886. Insiders own 12.20% of the company’s stock.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, January 30th. The conglomerate reported $1.19 EPS for the quarter, beating the consensus estimate of $1.16 by $0.03. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. equities research analysts expect that Danaher Co. will post 4.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, December 29th were issued a $0.14 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.56 annualized dividend and a yield of 0.58%. Danaher’s dividend payout ratio (DPR) is 16.00%.
Several analysts recently weighed in on DHR shares. Morgan Stanley increased their target price on Danaher from $95.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Argus increased their target price on Danaher from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Credit Suisse Group increased their target price on Danaher from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Cowen restated a “buy” rating and set a $110.00 target price on shares of Danaher in a research note on Tuesday, January 30th. Finally, Citigroup increased their target price on Danaher to $107.00 and gave the company a “buy” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Danaher currently has an average rating of “Buy” and a consensus price target of $100.68.
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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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