Candriam Luxembourg S.C.A. Increases Position in Danaher Co. (DHR)
Candriam Luxembourg S.C.A. lifted its position in Danaher Co. (NYSE:DHR) by 215.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 427,319 shares of the conglomerate’s stock after purchasing an additional 291,690 shares during the period. Danaher accounts for about 0.6% of Candriam Luxembourg S.C.A.’s investment portfolio, making the stock its 29th biggest position. Candriam Luxembourg S.C.A. owned approximately 0.06% of Danaher worth $46,433,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DHR. FMR LLC boosted its holdings in shares of Danaher by 10.3% in the second quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock valued at $2,073,369,000 after purchasing an additional 1,963,116 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Danaher by 77.5% in the second quarter. Renaissance Technologies LLC now owns 1,718,200 shares of the conglomerate’s stock valued at $169,552,000 after purchasing an additional 750,000 shares during the period. Bank of Montreal Can boosted its holdings in shares of Danaher by 113.3% in the third quarter. Bank of Montreal Can now owns 1,069,328 shares of the conglomerate’s stock valued at $116,195,000 after purchasing an additional 567,990 shares during the period. CIBC World Markets Inc. boosted its holdings in shares of Danaher by 2,228.2% in the second quarter. CIBC World Markets Inc. now owns 525,287 shares of the conglomerate’s stock valued at $51,835,000 after purchasing an additional 502,725 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Danaher by 160.4% in the second quarter. PNC Financial Services Group Inc. now owns 776,159 shares of the conglomerate’s stock valued at $76,592,000 after purchasing an additional 478,087 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.
In other news, Director Donald J. Ehrlich sold 10,578 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $95.77, for a total transaction of $1,013,055.06. Following the completion of the sale, the director now owns 105,491 shares in the company, valued at approximately $10,102,873.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 5,212 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $103.89, for a total value of $541,474.68. Following the sale, the insider now owns 151,829 shares of the company’s stock, valued at approximately $15,773,514.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,007 shares of company stock valued at $15,202,163. Company insiders own 11.90% of the company’s stock.
Danaher (NYSE:DHR) last posted its earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Danaher had a return on equity of 11.59% and a net margin of 14.07%. Danaher’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Analysts anticipate that Danaher Co. will post 4.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, September 28th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. Danaher’s dividend payout ratio is currently 15.88%.
A number of brokerages recently issued reports on DHR. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Bank of America set a $113.00 price target on Danaher and gave the company a “buy” rating in a report on Thursday, July 19th. Robert W. Baird lowered their target price on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Royal Bank of Canada upped their target price on Danaher to $107.00 and gave the stock a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Danaher presently has a consensus rating of “Buy” and a consensus target price of $112.14.
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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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