State of Michigan Retirement System Boosts Stock Holdings in Danaher Co. (NYSE:DHR)

State of Michigan Retirement System increased its position in shares of Danaher Co. (NYSE:DHR) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,146 shares of the conglomerate’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Danaher were worth $44,986,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its position in shares of Danaher by 1.4% in the 1st quarter. ST Germain D J Co. Inc. now owns 2,880 shares of the conglomerate’s stock worth $719,000 after purchasing an additional 41 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in shares of Danaher by 2.3% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,899 shares of the conglomerate’s stock worth $439,000 after purchasing an additional 43 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Danaher by 1.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 3,470 shares of the conglomerate’s stock worth $803,000 after purchasing an additional 43 shares during the last quarter. Berger Financial Group Inc increased its position in shares of Danaher by 1.7% in the 4th quarter. Berger Financial Group Inc now owns 2,517 shares of the conglomerate’s stock worth $582,000 after purchasing an additional 43 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in shares of Danaher by 1.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 4,329 shares of the conglomerate’s stock worth $1,001,000 after purchasing an additional 43 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Rainer Blair sold 47,175 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total value of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at approximately $28,908,273.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Rainer Blair sold 47,175 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total value of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares in the company, valued at approximately $28,908,273.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Mcgrew sold 46,377 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $253.05, for a total transaction of $11,735,699.85. Following the completion of the sale, the chief financial officer now owns 29,407 shares in the company, valued at $7,441,441.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,783 shares of company stock worth $37,536,717. 10.90% of the stock is owned by corporate insiders.

Danaher Price Performance

Shares of DHR stock traded down $4.10 during midday trading on Tuesday, reaching $240.41. 5,062,756 shares of the company were exchanged, compared to its average volume of 2,876,110. Danaher Co. has a 12 month low of $182.09 and a 12 month high of $269.11. The company has a market cap of $178.07 billion, a P/E ratio of 40.75, a PEG ratio of 3.82 and a beta of 0.84. The company’s 50 day moving average price is $256.13 and its two-hundred day moving average price is $246.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.85.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, topping 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 company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the firm earned $2.36 EPS. Danaher’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.45%. Danaher’s dividend payout ratio (DPR) is 18.31%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI decreased their price target on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of Danaher in a report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price target for the company. TD Cowen lifted their price target on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Citigroup lifted their price target on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.67.

About Danaher

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.