Short Interest in Danaher Co. (NYSE:DHR) Decreases By 11.4%
Danaher Co. (NYSE:DHR) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 5,092,200 shares, a decline of 11.4% from the May 30th total of 5,747,600 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is currently 2.2 days.
A number of equities research analysts have recently weighed in on DHR shares. Janney Montgomery Scott boosted their price objective on shares of Danaher from $136.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wolfe Research started coverage on shares of Waters in a report on Thursday, May 30th. They issued an “underperform” rating on the stock. Piper Jaffray Companies set a $29.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target (up from $135.00) on shares of Veeva Systems in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $133.00.
Shares of Danaher stock traded down $2.68 during trading hours on Friday, reaching $140.03. The stock had a trading volume of 4,283,700 shares, compared to its average volume of 2,660,802. The company’s 50 day simple moving average is $138.82. The stock has a market cap of $102.09 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.75 and a beta of 0.96. Danaher has a twelve month low of $94.59 and a twelve month high of $145.50. The company has a quick ratio of 1.74, a current ratio of 2.18 and a debt-to-equity ratio of 0.32.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.49%. Danaher’s dividend payout ratio (DPR) is currently 15.04%.
In other Danaher news, SVP William King sold 12,950 shares of Danaher stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $129.92, for a total value of $1,682,464.00. Following the transaction, the senior vice president now directly owns 29,070 shares of the company’s stock, valued at $3,776,774.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan G. Spoon sold 1,913 shares of Danaher stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $129.52, for a total transaction of $247,771.76. Following the completion of the transaction, the director now directly owns 86,863 shares in the company, valued at $11,250,495.76. The disclosure for this sale can be found here. Insiders sold 453,448 shares of company stock worth $59,724,640 over the last ninety days. Corporate insiders own 11.40% of the company’s stock.
Institutional investors have recently modified their holdings of the business. State of Wisconsin Investment Board raised its position in shares of Danaher by 12.9% during the 1st quarter. State of Wisconsin Investment Board now owns 692,865 shares of the conglomerate’s stock worth $91,472,000 after purchasing an additional 79,287 shares during the last quarter. Canton Hathaway LLC raised its position in shares of Danaher by 8.7% during the 1st quarter. Canton Hathaway LLC now owns 12,886 shares of the conglomerate’s stock worth $1,701,000 after purchasing an additional 1,036 shares during the last quarter. Abacus Planning Group Inc. raised its position in shares of Danaher by 52.3% during the 4th quarter. Abacus Planning Group Inc. now owns 9,979 shares of the conglomerate’s stock worth $225,000 after purchasing an additional 3,428 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Danaher during the 4th quarter worth about $1,705,000. Finally, IHT Wealth Management LLC raised its position in shares of Danaher by 5.1% during the 4th quarter. IHT Wealth Management LLC now owns 2,023 shares of the conglomerate’s stock worth $209,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 78.82% of the company’s stock.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
Featured Story: What is intrinsic value?
Receive News & Ratings for Danaher Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher and related companies with MarketBeat.com's FREE daily email newsletter.