Cornerstone Advisory LLC Purchases 270 Shares of Danaher Corporation (NYSE:DHR)

Cornerstone Advisory LLC increased its position in Danaher Corporation (NYSE:DHR) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,718 shares of the conglomerate’s stock after acquiring an additional 270 shares during the quarter. Cornerstone Advisory LLC’s holdings in Danaher were worth $707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in shares of Danaher by 396.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 99 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Danaher during the 4th quarter valued at about $27,000. Sierra Ocean LLC boosted its position in shares of Danaher by 116.9% during the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate’s stock valued at $29,000 after acquiring an additional 76 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Danaher during the 1st quarter valued at about $31,000. Finally, Hurley Capital LLC acquired a new stake in shares of Danaher during the 4th quarter valued at about $34,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the transaction, the executive vice president directly owned 15,179 shares in the company, valued at $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were 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 owned 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DHR has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Danaher from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. Scotiabank upgraded shares of Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 target price on the stock in a research report on Friday, July 11th. HSBC decreased their target price on shares of Danaher from $270.00 to $240.00 in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Danaher from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. Finally, Bank of America reduced their price target on shares of Danaher from $265.00 to $230.00 in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Danaher has an average rating of “Moderate Buy” and a consensus target price of $247.61.

Danaher Price Performance

Shares of DHR stock opened at $205.60 on Friday. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $281.70. The firm’s 50 day moving average is $196.38 and its 200-day moving average is $203.68. The firm has a market capitalization of $147.22 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 2.86 and a beta of 0.77. The company has a current ratio of 1.62, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business posted $1.72 earnings per share. Danaher’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, June 27th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.62%. Danaher’s dividend payout ratio is currently 27.23%.

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.