Logan Capital Management Inc. Cuts Stock Position in Danaher Co. (NYSE:DHR)

Logan Capital Management Inc. lessened its holdings in Danaher Co. (NYSE:DHRFree Report) by 53.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 211 shares of the conglomerate’s stock after selling 246 shares during the quarter. Logan Capital Management Inc.’s holdings in Danaher were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DHR. Cary Street Partners Investment Advisory LLC grew its position in shares of Danaher by 20.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after purchasing an additional 1,533 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in 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 acquiring an additional 149 shares in the last quarter. Cercano Management LLC grew its position in Danaher by 11.4% in 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in Danaher by 48.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock worth $68,707,000 after acquiring an additional 96,395 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Danaher by 4.8% in the third quarter. Parkside Financial Bank & Trust now owns 3,080 shares of the conglomerate’s stock worth $764,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

Danaher stock opened at $264.68 on Tuesday. The company has a 50 day moving average price of $252.30 and a 200-day moving average price of $243.38. 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 fifty-two week low of $182.09 and a fifty-two week high of $269.11. The company has a market capitalization of $196.05 billion, a PE ratio of 44.86, a P/E/G ratio of 4.02 and a beta of 0.85.

Danaher (NYSE:DHRGet Free Report) last posted its quarterly earnings results 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. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. As a group, equities analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, June 28th. Danaher’s dividend payout ratio (DPR) is 18.31%.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief executive officer now owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $11,735,699.85. Following the completion of the transaction, the chief financial officer now directly owns 29,407 shares in the company, valued at $7,441,441.35. The disclosure for this sale can be found here. Insiders sold 148,783 shares of company stock valued at $37,536,717 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird lifted their price target on Danaher from $259.00 to $271.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen lifted their price target on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price target for the company. Barclays raised their price objective on shares of Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, Bank of America raised their price objective 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.29.

Read Our Latest Report on DHR

Danaher Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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