Convergence Investment Partners LLC Boosts Stock Position in Danaher Co. (NYSE:DHR)

Convergence Investment Partners LLC lifted its position in Danaher Co. (NYSE:DHR) by 696.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,012 shares of the conglomerate’s stock after purchasing an additional 11,379 shares during the quarter. Convergence Investment Partners LLC’s holdings in Danaher were worth $1,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DHR. Jennison Associates LLC purchased a new position in shares of Danaher in the 1st quarter worth about $489,930,000. Railway Pension Investments Ltd bought a new position in Danaher during the 2nd quarter valued at approximately $13,030,000. Marshall Wace North America L.P. raised its position in Danaher by 48.5% during the 1st quarter. Marshall Wace North America L.P. now owns 2,115,438 shares of the conglomerate’s stock valued at $279,281,000 after purchasing an additional 690,837 shares during the last quarter. Geode Capital Management LLC raised its position in Danaher by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 7,527,142 shares of the conglomerate’s stock valued at $774,743,000 after purchasing an additional 583,194 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Danaher by 10.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,192,253 shares of the conglomerate’s stock valued at $421,439,000 after purchasing an additional 307,200 shares during the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Several research analysts have recently issued reports on DHR shares. Argus increased their target price on Danaher to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wolfe Research started coverage on Danaher in a research note on Thursday, May 30th. They issued an “outperform” rating on the stock. Robert W. Baird upped their price target on Danaher from $131.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded Danaher from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Piper Jaffray Companies increased their target price on Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $143.54.

In other news, EVP William K. Daniel sold 164,164 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $132.43, for a total transaction of $21,740,238.52. Following the completion of the transaction, the executive vice president now owns 194,627 shares in the company, valued at $25,774,453.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert S. Lutz sold 14,668 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $143.28, for a total value of $2,101,631.04. Following the transaction, the chief accounting officer now owns 21,054 shares of the company’s stock, valued at approximately $3,016,617.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 392,121 shares of company stock valued at $53,603,339. Company insiders own 11.40% of the company’s stock.

NYSE:DHR traded down $0.98 on Friday, reaching $139.24. 7,606 shares of the company’s stock traded hands, compared to its average volume of 2,360,093. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32. The stock’s 50-day moving average is $142.08. The stock has a market capitalization of $102.37 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 2.58 and a beta of 0.96. Danaher Co. has a 12 month low of $94.59 and a 12 month high of $145.50.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 18th. The conglomerate reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. As a group, sell-side analysts expect that Danaher Co. will post 4.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, June 28th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.49%. Danaher’s dividend payout ratio is presently 15.04%.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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