DAVENPORT & Co LLC Sells 3,687 Shares of Danaher Corporation (DHR)
DAVENPORT & Co LLC lowered its stake in shares of Danaher Corporation (NYSE:DHR) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 817,690 shares of the conglomerate’s stock after selling 3,687 shares during the period. Danaher Corporation makes up 0.9% of DAVENPORT & Co LLC’s portfolio, making the stock its 25th largest position. DAVENPORT & Co LLC owned 0.12% of Danaher Corporation worth $64,668,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Intermede Investment Partners Ltd increased its stake in shares of Danaher Corporation by 7.6% in the first quarter. Intermede Investment Partners Ltd now owns 437,308 shares of the conglomerate’s stock worth $37,403,000 after buying an additional 30,793 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Danaher Corporation by 0.6% in the first quarter. Rehmann Capital Advisory Group now owns 2,959 shares of the conglomerate’s stock worth $253,000 after buying an additional 19 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Danaher Corporation by 17.8% in the first quarter. Sigma Planning Corp now owns 3,991 shares of the conglomerate’s stock worth $341,000 after buying an additional 602 shares during the last quarter. First Manhattan Co. increased its stake in shares of Danaher Corporation by 0.8% in the first quarter. First Manhattan Co. now owns 2,932,760 shares of the conglomerate’s stock worth $229,899,000 after buying an additional 22,098 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in shares of Danaher Corporation by 14.7% in the first quarter. Crestwood Advisors Group LLC now owns 9,324 shares of the conglomerate’s stock worth $797,000 after buying an additional 1,195 shares during the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Danaher Corporation (NYSE DHR) traded down 0.12% during mid-day trading on Wednesday, reaching $81.89. The company had a trading volume of 697,670 shares. Danaher Corporation has a 1-year low of $75.71 and a 1-year high of $88.01. The stock has a market capitalization of $56.89 billion, a price-to-earnings ratio of 26.14 and a beta of 1.03. The firm has a 50-day moving average price of $82.08 and a 200-day moving average price of $84.16.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Danaher Corporation will post $3.95 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Danaher Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Danaher Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. set a $96.00 target price on shares of Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $88.00 target price on shares of Danaher Corporation in a research note on Wednesday, July 12th. Finally, Janney Montgomery Scott downgraded shares of Danaher Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $91.76.
In other news, Director Linda P. Hefner sold 10,578 shares of Danaher Corporation stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the sale, the director now directly owns 42,151 shares of the company’s stock, valued at $3,499,797.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William King sold 7,458 shares of Danaher Corporation stock in a transaction on Friday, July 21st. The shares were sold at an average price of $82.97, for a total value of $618,790.26. Following the completion of the sale, the insider now directly owns 18,245 shares of the company’s stock, valued at $1,513,787.65. The disclosure for this sale can be found here. Insiders sold 27,808 shares of company stock valued at $2,296,236 over the last ninety days. 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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