Pinnacle Associates Ltd. Has $5.42 Million Stock Holdings in Danaher Corporation (NYSE:DHR)

Pinnacle Associates Ltd. boosted its holdings in shares of Danaher Corporation (NYSE:DHR) by 5.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,457 shares of the conglomerate’s stock after acquiring an additional 1,323 shares during the period. Pinnacle Associates Ltd.’s holdings in Danaher were worth $5,424,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. FAS Wealth Partners Inc. grew its holdings in Danaher by 20.6% during the 4th 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. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Danaher in the 1st quarter valued at $539,000. Horizon Financial Services LLC grew its holdings in shares of Danaher by 20,400.0% in the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate’s stock valued at $1,681,000 after buying an additional 8,160 shares during the period. Vision Capital Management Inc. acquired a new position in shares of Danaher in the 1st quarter valued at $461,000. Finally, Eos Management L.P. grew its holdings in shares of Danaher by 55.8% in the 1st quarter. Eos Management L.P. now owns 40,567 shares of the conglomerate’s stock valued at $8,316,000 after buying an additional 14,537 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DHR shares. Argus decreased their price target on shares of Danaher from $260.00 to $240.00 in a report on Wednesday, April 23rd. Wolfe Research decreased their price target on shares of Danaher from $275.00 to $220.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Danaher from $210.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday. Robert W. Baird boosted their price target on shares of Danaher from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, UBS Group cut their price objective on shares of Danaher from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $247.61.

Danaher Stock Up 1.4%

Shares of DHR stock opened at $205.60 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.62. The firm’s 50-day moving average is $196.38 and its 200-day moving average is $203.92. The stock has a market cap of $147.22 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 2.82 and a beta of 0.77. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $281.70.

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

Danaher Announces Dividend

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

Insider Transactions at Danaher

In other Danaher news, 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christopher Paul Riley sold 15,805 shares of the 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 sale, the executive vice president owned 15,179 shares in the company, valued at $3,005,442. This represents a 51.01% decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

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.