Danaher Corporation (DHR) Position Raised by CIBC World Markets Inc.
CIBC World Markets Inc. boosted its position in Danaher Corporation (NYSE:DHR) by 112.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 250,636 shares of the conglomerate’s stock after purchasing an additional 132,769 shares during the period. CIBC World Markets Inc.’s holdings in Danaher Corporation were worth $21,151,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of DHR. Peddock Capital Advisors LLC lifted its stake in Danaher Corporation by 17.4% in the 1st quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 181 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Danaher Corporation by 92.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 598 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in Danaher Corporation in the 1st quarter valued at about $157,000. Motco lifted its stake in Danaher Corporation by 8.8% in the 2nd quarter. Motco now owns 2,011 shares of the conglomerate’s stock valued at $170,000 after purchasing an additional 163 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its stake in Danaher Corporation by 62.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after purchasing an additional 808 shares during the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
Danaher Corporation (DHR) opened at 87.03 on Friday. The stock’s 50 day moving average is $85.70 and its 200 day moving average is $84.21. Danaher Corporation has a one year low of $75.71 and a one year high of $88.62. The company has a market capitalization of $60.46 billion, a PE ratio of 27.78 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. The company had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. Danaher Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, analysts anticipate that Danaher Corporation will post $3.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Thursday, September 28th. Danaher Corporation’s payout ratio is currently 17.83%.
In related news, insider William King sold 43,688 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the sale, the insider now owns 45,748 shares of the company’s stock, valued at approximately $3,790,679.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the sale, the director now directly owns 42,151 shares in the company, valued at approximately $3,499,797.53. The disclosure for this sale can be found here. Insiders have sold a total of 71,496 shares of company stock worth $5,916,223 over the last 90 days. 12.20% of the stock is currently owned by corporate insiders.
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Several equities research analysts recently issued reports on DHR shares. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 target price on shares of Danaher Corporation in a research note on Friday, September 8th. BidaskClub downgraded shares of Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Wells Fargo & Company reiterated a “market perform” rating on shares of Danaher Corporation in a research note on Saturday, July 22nd. Citigroup Inc. set a $96.00 price target on shares of Danaher Corporation and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $88.00 price target on shares of Danaher Corporation in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $92.62.
About Danaher Corporation
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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