Veery Capital LLC Trims Position in Danaher Co. (NYSE:DHR)

Veery Capital LLC trimmed its holdings in shares of Danaher Co. (NYSE:DHR) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,601 shares of the conglomerate’s stock after selling 77 shares during the quarter. Veery Capital LLC’s holdings in Danaher were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Danaher by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate’s stock worth $13,715,641,000 after purchasing an additional 315,912 shares during the last quarter. Geode Capital Management LLC grew its position in Danaher by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate’s stock valued at $3,056,996,000 after acquiring an additional 315,446 shares in the last quarter. Norges Bank acquired a new position in Danaher in the 4th quarter valued at about $2,130,740,000. Bank of New York Mellon Corp grew its position in Danaher by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 8,589,019 shares of the conglomerate’s stock valued at $1,971,609,000 after acquiring an additional 441,012 shares in the last quarter. Finally, Northern Trust Corp grew its position in Danaher by 14.3% in the 4th quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate’s stock valued at $1,821,477,000 after acquiring an additional 992,594 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other news, EVP Christopher Paul Riley sold 15,805 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president now owns 15,179 shares in the company, valued at $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $245,925,000.00. Following the transaction, the chairman now directly owns 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DHR. Stifel Nicolaus raised Danaher from a “hold” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Friday, March 14th. HSBC lowered their price objective on Danaher from $270.00 to $240.00 in a research report on Friday, April 25th. UBS Group lowered their price objective on Danaher from $275.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Danaher from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price objective on Danaher from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and a consensus target price of $263.24.

Danaher Price Performance

Shares of NYSE DHR opened at $189.54 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. Danaher Co. has a twelve month low of $171.00 and a twelve month high of $281.70. The stock has a 50 day moving average of $192.72 and a two-hundred day moving average of $213.78. The stock has a market cap of $135.65 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.66 and a beta of 0.80.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Danaher had a return on equity of 10.82% and a net margin of 16.33%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.58 billion. On average, research analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 0.68%. Danaher’s dividend payout ratio (DPR) is presently 24.85%.

About Danaher

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.