Traders Buy Shares of Danaher Corp. (DHR) on Weakness
Investors purchased shares of Danaher Corp. (NYSE:DHR) on weakness during trading hours on Thursday. $49.19 million flowed into the stock on the tick-up and $32.14 million flowed out of the stock on the tick-down, for a money net flow of $17.05 million into the stock. Of all stocks tracked, Danaher Corp. had the 28th highest net in-flow for the day. Danaher Corp. traded down ($0.46) for the day and closed at $80.56
DHR has been the topic of several analyst reports. Bank of America Corp. reissued a “buy” rating on shares of Danaher Corp. in a research report on Sunday, May 29th. Stifel Nicolaus boosted their price target on shares of Danaher Corp. from $109.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Barclays PLC reissued a “buy” rating on shares of Danaher Corp. in a research report on Saturday, April 23rd. Leerink Swann reissued a “buy” rating on shares of Danaher Corp. in a research report on Monday, April 25th. Finally, Morgan Stanley reissued a “buy” rating and set a $106.00 price target on shares of Danaher Corp. in a research report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $96.86.
The firm’s 50-day moving average is $80.79 and its 200-day moving average is $73.73. The company has a market cap of $55.63 billion and a PE ratio of 16.02.
Danaher Corp. (NYSE:DHR) last issued its quarterly earnings data on Monday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.76 billion. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Danaher Corp. will post $3.56 earnings per share for the current year.
In other news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of Danaher Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the completion of the transaction, the insider now directly owns 179,054 shares in the company, valued at $14,582,157.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel L. Comas sold 96,446 shares of Danaher Corp. stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the transaction, the chief financial officer now owns 215,716 shares of the company’s stock, valued at $17,447,110.08. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of DHR. Genesee Valley Trust Co. boosted its position in shares of Danaher Corp. by 39.7% in the fourth quarter. Genesee Valley Trust Co. now owns 11,978 shares of the company’s stock worth $1,113,000 after buying an additional 3,402 shares in the last quarter. Argent Trust Co boosted its position in shares of Danaher Corp. by 10.7% in the third quarter. Argent Trust Co now owns 17,991 shares of the company’s stock worth $1,533,000 after buying an additional 1,732 shares in the last quarter. Ashmore Wealth Management LLC boosted its position in shares of Danaher Corp. by 3.3% in the fourth quarter. Ashmore Wealth Management LLC now owns 3,100,000 shares of the company’s stock worth $287,928,000 after buying an additional 100,000 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Danaher Corp. by 4.7% in the fourth quarter. Stephens Inc. AR now owns 80,903 shares of the company’s stock worth $7,514,000 after buying an additional 3,617 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. acquired a new position in shares of Danaher Corp. during the fourth quarter worth about $1,189,000.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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