Geode Capital Management LLC Acquires 329,458 Shares of Danaher Corporation (DHR)
Geode Capital Management LLC raised its position in shares of Danaher Corporation (NYSE:DHR) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,815,659 shares of the conglomerate’s stock after buying an additional 329,458 shares during the period. Geode Capital Management LLC owned approximately 0.84% of Danaher Corporation worth $496,687,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Catawba Capital Management VA increased its position in shares of Danaher Corporation by 2.5% in the first quarter. Catawba Capital Management VA now owns 7,577 shares of the conglomerate’s stock valued at $648,000 after buying an additional 183 shares during the period. Trust Co boosted its stake in Danaher Corporation by 13.6% in the fourth quarter. Trust Co now owns 5,237 shares of the conglomerate’s stock valued at $407,000 after buying an additional 625 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its stake in Danaher Corporation by 1.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 63,833 shares of the conglomerate’s stock valued at $5,460,000 after buying an additional 918 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Danaher Corporation by 31.0% in the first quarter. Raymond James Trust N.A. now owns 8,640 shares of the conglomerate’s stock valued at $739,000 after buying an additional 2,043 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in Danaher Corporation by 0.6% in the first quarter. Stock Yards Bank & Trust Co. now owns 154,330 shares of the conglomerate’s stock valued at $13,200,000 after buying an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.
Danaher Corporation (NYSE DHR) traded down 0.42% during midday trading on Thursday, reaching $81.22. The company’s stock had a trading volume of 1,194,708 shares. The stock’s 50-day moving average price is $82.52 and its 200-day moving average price is $84.24. The firm has a market capitalization of $56.42 billion, a price-to-earnings ratio of 25.92 and a beta of 1.03. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.01.
Danaher Corporation (NYSE:DHR) last announced its earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Analysts predict that Danaher Corporation will post $3.95 EPS for the current year.
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Several analysts have recently commented on the company. Wells Fargo & Company reissued a “market perform” rating on shares of Danaher Corporation in a report on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Danaher Corporation in a report on Friday, August 4th. BidaskClub cut Danaher Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $93.00 price objective on shares of Danaher Corporation in a report on Wednesday, May 24th. Finally, Janney Montgomery Scott cut Danaher Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Danaher Corporation currently has an average rating of “Buy” and a consensus price target of $91.76.
In other news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the completion of the sale, the insider now owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William King sold 7,458 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following the sale, the insider now directly owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,623 shares of company stock worth $3,206,426. Company insiders own 12.20% of the company’s stock.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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