First Manhattan Co. Increases Holdings in Danaher Corporation (DHR)
First Manhattan Co. boosted its holdings in shares of Danaher Corporation (NYSE:DHR) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,751,439 shares of the conglomerate’s stock after acquiring an additional 17,373 shares during the period. Danaher Corporation comprises 2.0% of First Manhattan Co.’s portfolio, making the stock its 9th largest holding. First Manhattan Co. owned approximately 0.40% of Danaher Corporation worth $232,194,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Enterprise Financial Services Corp raised its position in Danaher Corporation by 8.5% during the second quarter. Enterprise Financial Services Corp now owns 4,901 shares of the conglomerate’s stock worth $414,000 after acquiring an additional 385 shares during the last quarter. Hartford Financial Management Inc. raised its position in Danaher Corporation by 0.4% during the second quarter. Hartford Financial Management Inc. now owns 32,935 shares of the conglomerate’s stock worth $2,779,000 after acquiring an additional 125 shares during the last quarter. Whitnell & Co. raised its position in Danaher Corporation by 0.6% during the second quarter. Whitnell & Co. now owns 23,862 shares of the conglomerate’s stock worth $2,014,000 after acquiring an additional 150 shares during the last quarter. ST Germain D J Co. Inc. raised its position in Danaher Corporation by 12.4% during the second quarter. ST Germain D J Co. Inc. now owns 11,939 shares of the conglomerate’s stock worth $1,008,000 after acquiring an additional 1,314 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its position in Danaher Corporation by 8.5% during the second quarter. Ingalls & Snyder LLC now owns 3,815 shares of the conglomerate’s stock worth $322,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.
Shares of Danaher Corporation (DHR) opened at 87.07 on Tuesday. Danaher Corporation has a 12-month low of $75.71 and a 12-month high of $88.01. The stock has a market capitalization of $60.49 billion, a P/E ratio of 27.79 and a beta of 1.03. The company has a 50-day moving average of $81.84 and a 200-day moving average of $84.12.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’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 fiscal year.
A number of equities analysts have issued reports on the stock. Wells Fargo & Company restated a “market perform” rating on shares of Danaher Corporation in a research report on Saturday, July 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $95.00 price target on shares of Danaher Corporation in a report on Friday, August 4th. BidaskClub downgraded shares of Danaher Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Credit Suisse Group reiterated a “buy” rating and set a $93.00 price target on shares of Danaher Corporation in a report on Wednesday, May 24th. Finally, Janney Montgomery Scott downgraded shares of Danaher Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Danaher Corporation presently has an average rating of “Buy” and a consensus target price of $92.72.
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In related news, Director Linda P. Hefner sold 10,578 shares of the stock in a transaction that occurred 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 transaction, the director now owns 42,151 shares in the company, valued at $3,499,797.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William King sold 7,458 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $82.97, for a total value of $618,790.26. Following the completion of the transaction, the insider now owns 18,245 shares in the company, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. Insiders sold 71,496 shares of company stock worth $5,916,223 in the last 90 days. 12.20% of the stock is currently owned by corporate insiders.
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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