Tower Bridge Advisors Boosts Position in Danaher Corporation (DHR)
Tower Bridge Advisors boosted its stake in shares of Danaher Corporation (NYSE:DHR) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 71,534 shares of the conglomerate’s stock after buying an additional 736 shares during the period. Tower Bridge Advisors’ holdings in Danaher Corporation were worth $6,037,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Danaher Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock worth $3,503,962,000 after buying an additional 1,530,015 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Danaher Corporation by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock worth $3,247,398,000 after buying an additional 36,524,795 shares in the last quarter. FMR LLC boosted its stake in shares of Danaher Corporation by 0.3% in the first quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock worth $1,662,803,000 after buying an additional 53,429 shares in the last quarter. Parnassus Investments CA boosted its stake in shares of Danaher Corporation by 15.3% in the first quarter. Parnassus Investments CA now owns 8,622,528 shares of the conglomerate’s stock worth $712,738,000 after buying an additional 1,143,284 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Danaher Corporation by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 7,645,818 shares of the conglomerate’s stock worth $653,946,000 after buying an additional 50,673 shares in the last quarter. 76.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Danaher Corporation (DHR) opened at 82.16 on Friday. Danaher Corporation has a 52 week low of $75.71 and a 52 week high of $88.01. The stock has a market capitalization of $57.08 billion, a price-to-earnings ratio of 26.22 and a beta of 1.03. The firm’s 50-day moving average is $82.08 and its 200-day moving average is $84.16.
Danaher Corporation (NYSE:DHR) last issued its earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts forecast that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on DHR. BidaskClub cut Danaher Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Citigroup Inc. set a $96.00 price target on Danaher Corporation and gave the stock a “buy” rating in a research report on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and issued a $88.00 price target on shares of Danaher Corporation in a research report on Wednesday, July 12th. Finally, Janney Montgomery Scott cut Danaher Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Danaher Corporation currently has a consensus rating of “Buy” and an average target price of $91.76.
In other news, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the transaction, the director now owns 42,151 shares in the company, valued at approximately $3,499,797.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,718,425.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,808 shares of company stock valued at $2,296,236. Company insiders own 12.20% of the company’s stock.
Danaher Corporation 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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