Sawgrass Asset Management LLC decreased its position in Danaher Co. (NYSE:DHR) by 1.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 241,716 shares of the conglomerate’s stock after selling 3,498 shares during the period. Sawgrass Asset Management LLC’s holdings in Danaher were worth $34,546,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Asset Dedication LLC lifted its stake in Danaher by 121.3% in the 2nd quarter. Asset Dedication LLC now owns 3,901 shares of the conglomerate’s stock valued at $559,000 after acquiring an additional 2,138 shares in the last quarter. OTA Financial Group L.P. bought a new stake in Danaher in the 2nd quarter valued at approximately $1,724,000. Strategic Advisors LLC lifted its stake in Danaher by 18.0% in the 2nd quarter. Strategic Advisors LLC now owns 3,398 shares of the conglomerate’s stock valued at $485,000 after acquiring an additional 519 shares in the last quarter. Clean Yield Group bought a new stake in Danaher in the 2nd quarter valued at approximately $120,000. Finally, Brandywine Oak Private Wealth LLC bought a new stake in shares of Danaher during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.
Shares of Danaher stock traded down $1.28 on Friday, reaching $138.94. 837,380 shares of the company were exchanged, compared to its average volume of 2,360,093. Danaher Co. has a one year low of $94.59 and a one year high of $145.50. The firm has a market cap of $102.37 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a quick ratio of 1.91, a current ratio of 2.32 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $142.08.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, June 27th. Danaher’s payout ratio is presently 15.04%.
DHR has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $155.00 price objective (up previously from $142.00) on shares of Danaher in a research note on Friday, July 19th. Argus upped their price objective on Danaher to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Piper Jaffray Companies upped their price objective on Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $134.00 price objective on Danaher and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research upgraded Danaher from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Danaher has an average rating of “Buy” and a consensus target price of $143.54.
In related news, EVP William K. Daniel sold 164,164 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 194,627 shares of the company’s stock, valued at approximately $25,774,453.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian W. Ellis sold 1,010 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $144.04, for a total value of $145,480.40. Following the transaction, the insider now directly owns 20,889 shares in the company, valued at $3,008,851.56. The disclosure for this sale can be found here. Insiders have sold a total of 392,121 shares of company stock worth $53,603,339 over the last three months. 11.40% of the stock is owned by insiders.
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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