Mcdaniel Terry & Co. purchased a new position in Danaher Co. (NYSE:DHR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 746 shares of the conglomerate’s stock, valued at approximately $200,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Danaher in the 2nd quarter worth $26,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Danaher by 146.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the conglomerate’s stock worth $27,000 after buying an additional 60 shares in the last quarter. McCarthy Asset Management Inc. purchased a new stake in shares of Danaher during the second quarter worth $27,000. Burleson & Company LLC purchased a new stake in shares of Danaher during the first quarter worth $40,000. Finally, MV Capital Management Inc. grew its holdings in shares of Danaher by 79.0% during the second quarter. MV Capital Management Inc. now owns 188 shares of the conglomerate’s stock worth $50,000 after buying an additional 83 shares in the last quarter. 77.52% of the stock is owned by institutional investors.
NYSE DHR traded up $1.40 during trading hours on Tuesday, reaching $325.51. The company had a trading volume of 25,487 shares, compared to its average volume of 2,427,843. The stock has a 50-day moving average of $310.41 and a 200 day moving average of $268.60. Danaher Co. has a 1-year low of $201.44 and a 1-year high of $333.96. The company has a current ratio of 2.26, a quick ratio of 1.88 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $232.38 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 1.93 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. Danaher’s dividend payout ratio is presently 13.31%.
A number of research firms have recently issued reports on DHR. Bank of America upped their target price on shares of Danaher from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, September 10th. Royal Bank of Canada upped their target price on shares of Danaher from $304.00 to $332.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 8th. Robert W. Baird upped their price objective on shares of Danaher from $270.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Danaher from $280.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 23rd. Finally, Credit Suisse Group upped their price objective on shares of Danaher from $306.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, September 10th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $321.53.
In other Danaher news, CAO Robert S. Lutz sold 5,000 shares of the stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $313.40, for a total value of $1,567,000.00. Following the transaction, the chief accounting officer now directly owns 21,155 shares in the company, valued at $6,629,977. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joakim Weidemanis sold 16,467 shares of the stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $289.45, for a total transaction of $4,766,373.15. The disclosure for this sale can be found here. Insiders have sold 52,477 shares of company stock worth $15,439,958 over the last 90 days. Insiders own 11.40% of the company’s stock.
Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment 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.
Further Reading: Cost of Goods Sold (COGS)
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