Webster Bank N. A. decreased its position in shares of Danaher Co. (NYSE:DHR) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,686 shares of the conglomerate’s stock after selling 1,156 shares during the period. Danaher comprises 1.4% of Webster Bank N. A.’s portfolio, making the stock its 14th biggest position. Webster Bank N. A.’s holdings in Danaher were worth $9,816,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DHR. CX Institutional increased its holdings in shares of Danaher by 188.7% in the first quarter. CX Institutional now owns 205 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 134 shares in the last quarter. Lenox Wealth Management Inc. bought a new position in Danaher in the first quarter valued at approximately $40,000. Legacy Advisors LLC bought a new position in Danaher in the first quarter valued at approximately $55,000. American Research & Management Co. bought a new position in Danaher in the first quarter valued at approximately $66,000. Finally, Contravisory Investment Management Inc. bought a new position in Danaher in the second quarter valued at approximately $69,000. 78.84% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on DHR shares. Zacks Investment Research raised shares of Danaher from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Wolfe Research started coverage on shares of Danaher in a research note on Thursday, May 30th. They issued an “outperform” rating on the stock. Robert W. Baird raised their price objective on shares of Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Piper Jaffray Companies raised their price objective on shares of Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada set a $134.00 price objective on shares of Danaher and gave the company a “hold” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $143.54.
DHR stock traded down $0.94 during midday trading on Friday, reaching $139.28. The company’s stock had a trading volume of 10,613 shares, compared to its average volume of 2,360,093. The stock’s 50-day moving average price is $142.08. The stock has a market capitalization of $102.37 billion, a PE ratio of 30.81, a PEG ratio of 2.58 and a beta of 0.96. Danaher Co. has a 52 week low of $94.59 and a 52 week high of $145.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32.
Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Danaher had a net margin of 12.22% and a return on equity of 11.53%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. Analysts predict that Danaher Co. will post 4.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, June 28th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.49%. Danaher’s dividend payout ratio is 15.04%.
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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