Sawgrass Asset Management LLC Sells 6,230 Shares of Danaher Corporation (DHR)
Sawgrass Asset Management LLC cut its stake in shares of Danaher Corporation (NYSE:DHR) by 1.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 478,864 shares of the conglomerate’s stock after selling 6,230 shares during the period. Danaher Corporation makes up approximately 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 26th largest holding. Sawgrass Asset Management LLC owned about 0.07% of Danaher Corporation worth $40,411,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in Danaher Corporation by 92.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock worth $105,000 after acquiring an additional 598 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Danaher Corporation by 185.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 1,100 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in Danaher Corporation during the 1st quarter worth approximately $157,000. Motco lifted its position in Danaher Corporation by 8.8% during the 2nd quarter. Motco now owns 2,011 shares of the conglomerate’s stock worth $170,000 after acquiring an additional 163 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in Danaher Corporation by 62.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock worth $178,000 after acquiring an additional 808 shares in the last quarter. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Danaher Corporation (DHR) opened at 90.79 on Monday. The stock has a 50 day moving average price of $86.59 and a 200-day moving average price of $84.29. Danaher Corporation has a one year low of $76.27 and a one year high of $91.64. The company has a market capitalization of $63.07 billion, a P/E ratio of 28.98 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its earnings results on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. Danaher Corporation had a return on equity of 11.48% and a net margin of 13.36%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that Danaher Corporation will post $3.97 earnings per share for the current fiscal year.
The firm also recently announced 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. The ex-dividend date is Thursday, September 28th. This represents a $0.56 annualized dividend and a yield of 0.62%. Danaher Corporation’s payout ratio is 16.52%.
In other Danaher Corporation news, insider William King sold 43,688 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now owns 45,748 shares in the company, valued at approximately $3,790,679.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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. 12.20% of the stock is owned by corporate insiders.
Several equities analysts recently commented on DHR shares. Zacks Investment Research lowered Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $83.00 price target on shares of Danaher Corporation in a research report on Tuesday, September 26th. Credit Suisse Group boosted their price target on Danaher Corporation from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday. BidaskClub raised Danaher Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $95.00 price target on shares of Danaher Corporation in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Danaher Corporation currently has an average rating of “Buy” and an average price target of $93.31.
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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