Lake Street Advisors Group LLC Grows Position in Danaher Co. (NYSE:DHR)

Lake Street Advisors Group LLC raised its position in Danaher Co. (NYSE:DHR) by 50.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,211 shares of the conglomerate’s stock after acquiring an additional 2,079 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Danaher were worth $1,553,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PYA Waltman Capital LLC increased its holdings in Danaher by 10.0% in the first quarter. PYA Waltman Capital LLC now owns 32,429 shares of the conglomerate’s stock valued at $8,098,000 after buying an additional 2,935 shares during the last quarter. Mirova increased its holdings in shares of Danaher by 76.8% in the 1st quarter. Mirova now owns 3,951 shares of the conglomerate’s stock valued at $987,000 after acquiring an additional 1,716 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Danaher by 3.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 238,987 shares of the conglomerate’s stock worth $59,680,000 after acquiring an additional 7,871 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its stake in Danaher by 20.5% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 31,510 shares of the conglomerate’s stock worth $7,869,000 after purchasing an additional 5,356 shares during the last quarter. Finally, Invesco LLC boosted its holdings in Danaher by 11.0% in the first quarter. Invesco LLC now owns 1,453 shares of the conglomerate’s stock valued at $363,000 after purchasing an additional 144 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Performance

NYSE:DHR traded up $1.58 during midday trading on Wednesday, reaching $265.76. The stock had a trading volume of 4,058,140 shares, compared to its average volume of 2,913,410. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock has a market cap of $196.85 billion, a P/E ratio of 45.04, a P/E/G ratio of 3.90 and a beta of 0.83. The firm has a fifty day simple moving average of $254.89 and a two-hundred day simple moving average of $248.67. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $272.98.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Danaher Co. will post 7.62 EPS for the current year.

Danaher Dividend Announcement

The firm also recently announced 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. This represents a $1.08 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 28th. Danaher’s payout ratio is 18.31%.

Analyst Upgrades and Downgrades

DHR has been the subject of several recent analyst reports. SVB Leerink boosted their price objective on shares of Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup raised their price objective on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on Danaher in a research report on Monday, June 3rd. They set a “buy” rating and a $295.00 target price on the stock. Finally, Robert W. Baird upped their target price on Danaher from $271.00 to $278.00 and gave the company an “outperform” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.88.

Insider Transactions at Danaher

In related news, Director Alan G. Spoon sold 708 shares of Danaher stock in a transaction that occurred 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 sale, the director now directly owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Alan G. Spoon sold 708 shares of the firm’s 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 sale, the director now owns 116,202 shares in the company, valued at $28,304,483.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rainer Blair sold 19,085 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $255.00, for a total transaction of $4,866,675.00. Following the transaction, the chief executive officer now owns 115,995 shares in the company, valued at $29,578,725. The disclosure for this sale can be found here. In the last three months, insiders sold 97,608 shares of company stock valued at $24,779,724. 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.