Danaher Co. (NYSE:DHR) Shares Sold by Abound Wealth Management

Abound Wealth Management lowered its holdings in Danaher Co. (NYSE:DHR) by 32.7% in the second quarter, HoldingsChannel reports. The firm owned 224 shares of the conglomerate’s stock after selling 109 shares during the period. Abound Wealth Management’s holdings in Danaher were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Cape Investment Advisory Inc. purchased a new position in shares of Danaher during the 4th quarter valued at approximately $25,000. Tsfg LLC boosted its stake in Danaher by 733.3% during the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Danaher in the 2nd quarter worth about $25,000. nVerses Capital LLC acquired a new stake in shares of Danaher in the 2nd quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Danaher during the first quarter worth about $30,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Trading Up 0.6 %

Shares of NYSE:DHR opened at $274.25 on Monday. The company has a 50 day moving average of $264.55 and a 200-day moving average of $256.51. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a market cap of $198.07 billion, a P/E ratio of 46.48, a P/E/G ratio of 4.48 and a beta of 0.83. Danaher Co. has a twelve month low of $182.09 and a twelve month high of $281.70.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, September 27th. Danaher’s payout ratio is currently 18.31%.

Insiders Place Their Bets

In related news, SVP Brian W. Ellis sold 9,600 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the completion of the sale, the senior vice president now directly owns 20,230 shares of the company’s stock, valued at $5,566,486.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Brian W. Ellis sold 9,600 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the completion of the sale, the senior vice president now directly owns 20,230 shares of the company’s stock, valued at approximately $5,566,486.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Georgeann Couchara sold 952 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,659 shares of company stock worth $11,042,433. 11.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DHR shares. Bank of America lifted their target price on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their price target on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Jefferies Financial Group assumed coverage on shares of Danaher in a research note on Monday, June 3rd. They set a “buy” rating and a $295.00 price objective on the stock. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company initiated coverage on Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.94.

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.