Rafferty Asset Management LLC Takes $803,000 Position in Danaher Corporation (DHR)
Rafferty Asset Management LLC purchased a new position in Danaher Corporation (NYSE:DHR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,518 shares of the conglomerate’s stock, valued at approximately $803,000.
Several other institutional investors have also recently made changes to their positions in DHR. Waldron LP purchased a new stake in shares of Danaher Corporation in the first quarter worth about $320,000. Empire Life Investments Inc. increased its position in shares of Danaher Corporation by 2.3% in the first quarter. Empire Life Investments Inc. now owns 77,900 shares of the conglomerate’s stock worth $6,662,000 after purchasing an additional 1,764 shares during the last quarter. Commerce Bank increased its position in shares of Danaher Corporation by 0.3% in the first quarter. Commerce Bank now owns 404,829 shares of the conglomerate’s stock worth $34,625,000 after purchasing an additional 1,321 shares during the last quarter. Peddock Capital Advisors LLC increased its position in shares of Danaher Corporation by 17.4% in the first quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 181 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Danaher Corporation by 29.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 45,255 shares of the conglomerate’s stock worth $3,871,000 after purchasing an additional 10,361 shares during the last quarter. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on DHR. Robert W. Baird upped their price objective on shares of Danaher Corporation from $87.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Danaher Corporation from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Danaher Corporation in a research report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price objective on the stock. Goldman Sachs Group Inc restated a “neutral” rating and issued a $83.00 price objective on shares of Danaher Corporation in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $95.00 price objective on shares of Danaher Corporation in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Danaher Corporation presently has a consensus rating of “Buy” and a consensus price target of $93.31.
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Shares of Danaher Corporation (DHR) opened at 90.79 on Friday. The stock has a market cap of $63.07 billion, a price-to-earnings ratio of 28.98 and a beta of 1.03. The company has a 50-day moving average price of $86.59 and a 200-day moving average price of $84.29. Danaher Corporation has a 52 week low of $76.27 and a 52 week high of $91.64.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. Danaher Corporation had a return on equity of 11.48% and a net margin of 13.36%. Danaher Corporation’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. Equities analysts anticipate that Danaher Corporation will post $3.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 28th. Danaher Corporation’s dividend payout ratio (DPR) is presently 16.52%.
In other Danaher Corporation news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $81.78, for a total value of $799,154.16. Following the transaction, the insider now owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William King sold 43,688 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the transaction, the insider now directly owns 45,748 shares in the company, valued at approximately $3,790,679.28. The disclosure for this sale can be found here. Corporate 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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