Danaher Corporation (DHR) Position Cut by Torray LLC
Torray LLC reduced its holdings in shares of Danaher Corporation (NYSE:DHR) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,539 shares of the conglomerate’s stock after selling 4,170 shares during the period. Danaher makes up 1.9% of Torray LLC’s holdings, making the stock its 15th largest position. Torray LLC’s holdings in Danaher were worth $19,175,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Putnam FL Investment Management Co. acquired a new position in shares of Danaher in the first quarter valued at about $617,000. Bailard Inc. increased its holdings in shares of Danaher by 53.8% in the first quarter. Bailard Inc. now owns 52,665 shares of the conglomerate’s stock valued at $4,504,000 after purchasing an additional 18,431 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Danaher in the first quarter valued at about $116,462,000. Guardian Life Insurance Co. of America increased its holdings in shares of Danaher by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 2,356 shares of the conglomerate’s stock valued at $202,000 after purchasing an additional 24 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of Danaher in the first quarter valued at about $116,462,000. 76.28% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Danaher from $87.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Credit Suisse Group increased their price objective on Danaher from $93.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Morgan Stanley increased their price objective on Danaher from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, October 20th. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Thursday, October 5th. Finally, Cowen reissued a “buy” rating and issued a $90.00 price objective on shares of Danaher in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $93.31.
Shares of Danaher Corporation (NYSE DHR) opened at $93.82 on Friday. The company has a market capitalization of $65,637.30, a PE ratio of 24.26, a P/E/G ratio of 2.24 and a beta of 1.02. Danaher Corporation has a 1-year low of $76.27 and a 1-year high of $94.82. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.42.
Danaher (NYSE:DHR) last posted its earnings results on Thursday, October 19th. The conglomerate reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.47 billion. Danaher had a return on equity of 11.29% and a net margin of 13.36%. Danaher’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. analysts predict that Danaher Corporation will post 3.99 EPS for the current year.
In related news, SVP Daniel Raskas sold 37,870 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $93.33, for a total transaction of $3,534,407.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total value of $960,693.96. Following the sale, the director now directly owns 104,621 shares in the company, valued at $9,501,679.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,810 shares of company stock worth $25,218,813. 12.20% of the stock is owned by corporate insiders.
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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