Duality Advisers LP Makes New Investment in Danaher Co. (NYSE:DHR)

Duality Advisers LP bought a new position in shares of Danaher Co. (NYSE:DHR) during the 1st quarter, HoldingsChannel.com reports. The fund bought 22,318 shares of the conglomerate’s stock, valued at approximately $5,573,000. Danaher accounts for about 0.6% of Duality Advisers LP’s portfolio, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. Cary Street Partners Investment Advisory LLC grew its position in Danaher by 20.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock worth $2,112,000 after purchasing an additional 1,533 shares during the period. First Citizens Bank & Trust Co. boosted its stake in shares of Danaher by 0.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock worth $6,156,000 after buying an additional 149 shares during the last quarter. Cercano Management LLC grew its holdings in Danaher by 11.4% during the fourth quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock worth $46,862,000 after acquiring an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC raised its position in Danaher by 48.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after acquiring an additional 96,395 shares in the last quarter. Finally, Donaldson Capital Management LLC lifted its holdings in Danaher by 5.8% in the first quarter. Donaldson Capital Management LLC now owns 1,469 shares of the conglomerate’s stock valued at $367,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of analyst reports. Robert W. Baird raised their price objective on shares of Danaher from $259.00 to $271.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group began coverage on shares of Danaher in a report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price objective for the company. Bank of America increased their target price 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. Evercore ISI dropped their price objective on Danaher from $266.00 to $260.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, TD Cowen increased their target price on Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $268.67.

Insider Transactions at Danaher

In other Danaher news, CEO Rainer Blair sold 47,175 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rainer Blair sold 47,175 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was 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 owns 115,995 shares in the company, valued at approximately $28,908,273.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Mcgrew sold 46,377 shares of Danaher stock in a transaction on Friday, May 10th. The stock was sold at an average price of $253.05, for a total value of $11,735,699.85. Following the transaction, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at $7,441,441.35. The disclosure for this sale can be found here. Insiders have sold a total of 148,783 shares of company stock worth $37,536,717 over the last ninety days. 11.10% of the stock is currently owned by company insiders.

Danaher Stock Performance

Shares of DHR stock traded up $1.64 during mid-day trading on Friday, hitting $247.91. 956,437 shares of the stock were exchanged, compared to its average volume of 2,847,309. The stock’s fifty day simple moving average is $255.05 and its two-hundred day simple moving average is $247.31. 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 Co. has a 12-month low of $182.09 and a 12-month high of $269.11. The stock has a market capitalization of $183.62 billion, a price-to-earnings ratio of 41.74, a P/E/G ratio of 3.70 and a beta of 0.83.

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

Danaher Dividend Announcement

The company also recently disclosed 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 yield of 0.44%. Danaher’s payout ratio is currently 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.