Corundum Group Inc. Sells 71 Shares of Danaher Co. (NYSE:DHR)

Corundum Group Inc. decreased its position in shares of Danaher Co. (NYSE:DHR) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 917 shares of the conglomerate’s stock after selling 71 shares during the period. Corundum Group Inc.’s holdings in Danaher were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. bought a new stake in shares of Danaher during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in Danaher in the 4th quarter valued at about $27,000. Wetzel Investment Advisors Inc. bought a new position in shares of Danaher in the fourth quarter worth about $29,000. Rakuten Securities Inc. acquired a new position in shares of Danaher during the fourth quarter worth approximately $36,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Danaher during the fourth quarter valued at approximately $41,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen lifted their price objective on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America lifted their price objective on shares of Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird increased their price target on Danaher from $259.00 to $271.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group initiated coverage on Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price objective for the company. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.29.

Danaher Price Performance

Danaher stock traded down $1.31 during mid-day trading on Thursday, reaching $252.28. The company had a trading volume of 324,931 shares, compared to its average volume of 2,817,199. The company has a market cap of $186.86 billion, a P/E ratio of 43.01, a P/E/G ratio of 3.89 and a beta of 0.85. The business has a fifty day simple moving average of $255.07 and a 200 day simple moving average of $246.14. 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 $269.11.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts predict that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.08 annualized dividend and a yield of 0.43%. Danaher’s payout ratio is 18.31%.

Insiders Place Their Bets

In related news, Director Alan G. Spoon sold 708 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the sale, the director now directly owns 116,202 shares of the company’s stock, valued at approximately $28,304,483.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Danaher news, CEO Rainer Blair sold 9,005 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $265.00, for a total transaction of $2,386,325.00. Following the completion of the transaction, the chief executive officer now directly owns 106,990 shares of the company’s stock, valued at $28,352,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan G. Spoon sold 708 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the transaction, the director now directly owns 116,202 shares in the company, valued at approximately $28,304,483.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,783 shares of company stock valued at $37,536,717. Corporate insiders own 11.10% of the company’s stock.

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.