Coastal Bridge Advisors LLC purchased a new stake in shares of Danaher Co. (NYSE:DHR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 795 shares of the conglomerate’s stock, valued at approximately $213,000.
Other hedge funds also recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Danaher during the second quarter valued at approximately $26,000. McCarthy Asset Management Inc. acquired a new position in Danaher during the second quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its holdings in Danaher by 146.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 60 shares during the last quarter. Burleson & Company LLC acquired a new position in Danaher during the first quarter valued at approximately $40,000. Finally, MV Capital Management Inc. grew its stake in shares of Danaher by 79.0% in the second quarter. MV Capital Management Inc. now owns 188 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.
Shares of NYSE DHR traded up $3.22 during midday trading on Wednesday, reaching $327.31. 51,126 shares of the company traded hands, compared to its average volume of 2,421,773. The firm has a market cap of $233.67 billion, a PE ratio of 43.45, a PEG ratio of 1.93 and a beta of 0.70. The stock’s 50-day simple moving average is $306.67 and its 200-day simple moving average is $265.68. Danaher Co. has a 12 month low of $201.44 and a 12 month high of $333.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.88 and a current ratio of 2.26.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. Danaher’s payout ratio is presently 13.31%.
In related news, CFO Matthew Mcgrew sold 12,310 shares of Danaher stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $293.40, for a total value of $3,611,754.00. Following the completion of the transaction, the chief financial officer now directly owns 14,874 shares of the company’s stock, valued at $4,364,031.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert S. Lutz sold 5,000 shares of Danaher stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 21,155 shares of the company’s stock, valued at $6,629,977. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,477 shares of company stock valued at $15,439,958. Company insiders own 11.40% of the company’s stock.
Several equities research analysts have recently issued reports on DHR shares. Cowen raised their price objective on shares of Danaher from $275.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “strong-buy” rating and set a $334.00 price objective on the stock in a research note on Wednesday, July 28th. Benchmark started coverage on shares of Danaher in a research note on Friday, July 16th. They issued a “buy” rating and a $330.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Danaher from $280.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. Finally, Bank of America raised their price objective on shares of Danaher from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Danaher presently has a consensus rating of “Buy” and a consensus price target of $321.53.
Danaher Company Profile
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.
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