Investors Buy Danaher Corp. (DHR) on Weakness
Traders bought shares of Danaher Corp. (NYSE:DHR) on weakness during trading hours on Friday. $57.21 million flowed into the stock on the tick-up and $36.94 million flowed out of the stock on the tick-down, for a money net flow of $20.27 million into the stock. Of all stocks tracked, Danaher Corp. had the 20th highest net in-flow for the day. Danaher Corp. traded down ($0.05) for the day and closed at $81.24
A number of research analysts recently weighed in on DHR shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $105.00 price objective on shares of Danaher Corp. in a research note on Thursday, June 30th. Leerink Swann reissued a “buy” rating on shares of Danaher Corp. in a research note on Monday, April 25th. Citigroup Inc. raised their price objective on Danaher Corp. from $102.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, June 13th. Royal Bank Of Canada raised their price objective on Danaher Corp. from $96.00 to $99.00 and gave the company a “sector perform” rating in a research note on Friday, May 27th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Danaher Corp. in a research note on Sunday, May 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $98.50.
The stock’s 50-day moving average is $77.45 and its 200 day moving average is $71.68. The firm has a market capitalization of $55.95 billion and a PE ratio of 16.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, June 3rd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, June 1st. This represents a $0.64 annualized dividend and a yield of 0.79%.
In other Danaher Corp. news, EVP James A. Lico sold 58,954 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $96.93, for a total value of $5,714,411.22. Following the sale, the executive vice president now owns 181,517 shares in the company, valued at $17,594,442.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Angela S. Lalor sold 8,392 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $97.77, for a total value of $820,485.84. Following the completion of the sale, the senior vice president now owns 48,110 shares in the company, valued at approximately $4,703,714.70. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its stake in Danaher Corp. by 107.3% in the fourth quarter. OppenheimerFunds Inc. now owns 1,784,911 shares of the company’s stock valued at $165,788,000 after buying an additional 923,849 shares in the last quarter. Vanguard Group Inc. raised its stake in Danaher Corp. by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 34,070,601 shares of the company’s stock valued at $3,164,477,000 after buying an additional 837,851 shares in the last quarter. BHF Kleinwort Benson Group S.A. acquired a new stake in Danaher Corp. during the fourth quarter valued at about $38,422,000. State of New Jersey Common Pension Fund D acquired a new stake in Danaher Corp. during the fourth quarter valued at about $18,576,000. Finally, Schroder Investment Management Group raised its stake in Danaher Corp. by 7.6% in the fourth quarter. Schroder Investment Management Group now owns 2,285,806 shares of the company’s stock valued at $212,306,000 after buying an additional 161,434 shares in the last quarter.
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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