Sawgrass Asset Management LLC Trims Stock Position in Danaher Co. (NYSE:DHR)

Sawgrass Asset Management LLC lowered its position in shares of Danaher Co. (NYSE:DHR) by 94.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,521 shares of the conglomerate’s stock after selling 42,906 shares during the period. Sawgrass Asset Management LLC’s holdings in Danaher were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Banco Santander S.A. acquired a new position in shares of Danaher in the 3rd quarter valued at $683,000. First Citizens Bank & Trust Co. increased its position in shares of Danaher by 0.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after acquiring an additional 149 shares during the last quarter. Cercano Management LLC raised its stake in shares of Danaher by 11.4% in the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after acquiring an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Danaher by 48.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock worth $68,707,000 after acquiring an additional 96,395 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Danaher by 4.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,080 shares of the conglomerate’s stock worth $764,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Transactions at Danaher

In other news, Director Alan G. Spoon sold 708 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total transaction of $172,454.64. Following the completion of the transaction, the director now directly owns 116,202 shares of the company’s stock, valued at approximately $28,304,483.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Alan G. Spoon sold 708 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the transaction, the director now owns 116,202 shares in the company, valued at approximately $28,304,483.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Georgeann Couchara sold 2,622 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $242.67, for a total transaction of $636,280.74. Following the completion of the sale, the senior vice president now owns 4,244 shares of the company’s stock, valued at approximately $1,029,891.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,984 shares of company stock worth $25,997,094. Company insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

DHR has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Barclays lifted their target price on Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Citigroup upped their price target on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America lifted their price objective on Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, KeyCorp raised their target price on shares of Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.31.

Danaher Stock Up 0.6 %

NYSE:DHR traded up $1.45 during midday trading on Tuesday, hitting $248.85. 1,683,401 shares of the company were exchanged, compared to its average volume of 2,744,101. The company has a fifty day simple moving average of $248.27 and a 200 day simple moving average of $233.19. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $259.00. The company has a market capitalization of $184.32 billion, a PE ratio of 42.18, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the previous year, the company posted $2.36 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.43%. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.