Cortland Associates Inc. MO Sells 976 Shares of Danaher Co. (NYSE:DHR)

Cortland Associates Inc. MO trimmed its stake in shares of Danaher Co. (NYSE:DHR) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 191,495 shares of the conglomerate’s stock after selling 976 shares during the period. Danaher comprises about 4.9% of Cortland Associates Inc. MO’s holdings, making the stock its 10th largest position. Cortland Associates Inc. MO’s holdings in Danaher were worth $43,102,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Danaher by 24.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,014,782 shares of the conglomerate’s stock worth $228,407,000 after purchasing an additional 198,284 shares during the period. Oak Ridge Investments LLC raised its position in shares of Danaher by 1,085.7% during the 1st quarter. Oak Ridge Investments LLC now owns 618,143 shares of the conglomerate’s stock worth $139,131,000 after purchasing an additional 566,009 shares during the period. Inverness Counsel LLC NY raised its position in shares of Danaher by 23.1% during the 1st quarter. Inverness Counsel LLC NY now owns 189,331 shares of the conglomerate’s stock worth $42,615,000 after purchasing an additional 35,509 shares during the period. Hedeker Wealth LLC raised its position in shares of Danaher by 0.4% during the 1st quarter. Hedeker Wealth LLC now owns 24,243 shares of the conglomerate’s stock worth $5,456,000 after purchasing an additional 90 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Danaher during the 1st quarter worth approximately $16,566,000. Institutional investors and hedge funds own 78.00% of the company’s stock.

Danaher stock traded up $3.01 during mid-day trading on Friday, hitting $255.68. 22,205 shares of the company’s stock were exchanged, compared to its average volume of 2,530,653. The company has a current ratio of 2.08, a quick ratio of 1.68 and a debt-to-equity ratio of 0.63. The stock has a market cap of $182.37 billion, a P/E ratio of 51.15, a P/E/G ratio of 1.92 and a beta of 0.72. Danaher Co. has a 1-year low of $155.61 and a 1-year high of $261.43. The stock has a 50 day moving average of $242.08 and a two-hundred day moving average of $232.10.

Danaher (NYSE:DHR) last posted its earnings results on Wednesday, April 21st. The conglomerate reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.85. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 18.05% and a return on equity of 12.94%. The business’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, research analysts predict that Danaher Co. will post 6.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Friday, June 25th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Thursday, June 24th. Danaher’s dividend payout ratio is currently 19.00%.

In other news, EVP Joakim Weidemanis sold 17,169 shares of the firm’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $258.76, for a total value of $4,442,650.44. Following the sale, the executive vice president now directly owns 84,420 shares of the company’s stock, valued at $21,844,519.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Angela S. Lalor sold 3,092 shares of the stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $255.79, for a total transaction of $790,902.68. Following the completion of the sale, the senior vice president now owns 30,937 shares of the company’s stock, valued at approximately $7,913,375.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,611 shares of company stock worth $6,361,595. 11.70% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on DHR. Zacks Investment Research cut Danaher from a “hold” rating to a “sell” rating and set a $241.00 price target on the stock. in a research report on Friday, April 9th. KeyCorp raised their target price on Danaher from $280.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. William Blair restated an “outperform” rating on shares of Danaher in a research report on Monday, April 26th. Wells Fargo & Company raised their target price on Danaher from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Danaher from $275.00 to $315.00 in a report on Friday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $265.63.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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