Riverhead Capital Management LLC Increases Holdings in Danaher Co. (DHR)
Riverhead Capital Management LLC raised its stake in Danaher Co. (NYSE:DHR) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,124 shares of the conglomerate’s stock after acquiring an additional 3,521 shares during the period. Riverhead Capital Management LLC’s holdings in Danaher were worth $3,565,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Danaher by 6.2% in the 1st quarter. BlackRock Inc. now owns 43,526,564 shares of the conglomerate’s stock worth $4,261,685,000 after buying an additional 2,542,198 shares during the last quarter. FMR LLC increased its holdings in shares of Danaher by 10.3% in the 2nd quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock worth $2,073,369,000 after buying an additional 1,963,116 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in shares of Danaher by 3.5% in the 1st quarter. Aristotle Capital Management LLC now owns 4,451,816 shares of the conglomerate’s stock worth $435,877,000 after buying an additional 150,343 shares during the last quarter. Findlay Park Partners LLP increased its holdings in shares of Danaher by 4.8% in the 2nd quarter. Findlay Park Partners LLP now owns 3,825,000 shares of the conglomerate’s stock worth $377,451,000 after buying an additional 175,000 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Danaher by 2.1% in the 1st quarter. Epoch Investment Partners Inc. now owns 3,818,204 shares of the conglomerate’s stock worth $373,840,000 after buying an additional 77,733 shares during the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.
A number of analysts have recently weighed in on DHR shares. Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Thursday, May 17th. Morgan Stanley boosted their target price on shares of Danaher from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Bank of America set a $113.00 target price on shares of Danaher and gave the stock a “buy” rating in a report on Thursday, July 19th. ValuEngine raised shares of Danaher from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, Royal Bank of Canada lifted their price target on shares of Danaher to $107.00 and gave the stock a “positive” rating in a research note on Thursday, July 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $108.31.
Danaher (NYSE:DHR) last released its quarterly earnings results on Thursday, July 19th. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.06. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Danaher had a net margin of 13.84% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. research analysts expect that Danaher Co. will post 4.49 earnings per share for the current year.
In other Danaher news, insider Thomas Patrick Joyce, Jr. sold 104,913 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $101.88, for a total value of $10,688,536.44. Following the completion of the sale, the insider now directly owns 276,438 shares of the company’s stock, valued at approximately $28,163,503.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert S. Lutz sold 14,555 shares of the business’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $103.93, for a total transaction of $1,512,701.15. Following the completion of the sale, the senior vice president now directly owns 18,044 shares of the company’s stock, valued at $1,875,312.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,961 shares of company stock valued at $30,619,691. 11.90% of the stock is owned by corporate insiders.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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