Sumitomo Life Insurance Co. boosted its stake in Danaher Co. (NYSE:DHR) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,423 shares of the conglomerate’s stock after purchasing an additional 1,217 shares during the period. Sumitomo Life Insurance Co.’s holdings in Danaher were worth $4,634,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lenox Wealth Management Inc. acquired a new stake in Danaher in the 1st quarter valued at $40,000. Legacy Advisors LLC acquired a new stake in Danaher in the 1st quarter valued at $55,000. American Research & Management Co. acquired a new stake in Danaher in the 1st quarter valued at $66,000. Contravisory Investment Management Inc. acquired a new stake in Danaher in the 2nd quarter valued at $69,000. Finally, Glassman Wealth Services increased its holdings in Danaher by 123.3% in the 1st quarter. Glassman Wealth Services now owns 585 shares of the conglomerate’s stock valued at $77,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.
DHR has been the subject of several recent research reports. Royal Bank of Canada set a $134.00 price target on Danaher and gave the company a “hold” rating in a report on Friday, July 19th. Janney Montgomery Scott increased their price target on Danaher from $136.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Needham & Company LLC restated a “buy” rating and set a $155.00 target price (up from $142.00) on shares of Danaher in a research note on Friday, July 19th. Wolfe Research assumed coverage on Danaher in a research note on Thursday, May 30th. They set an “outperform” rating for the company. Finally, Piper Jaffray Companies raised 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $143.54.
Shares of Danaher stock traded up $1.71 during trading hours on Tuesday, hitting $137.41. 1,759,484 shares of the company’s stock traded hands, compared to its average volume of 2,556,058. The stock has a 50 day moving average of $142.00. 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 has a market cap of $97.99 billion, a P/E ratio of 30.40, a PEG ratio of 2.51 and a beta of 0.94. Danaher Co. has a twelve month low of $94.59 and a twelve month high of $145.50.
Danaher (NYSE:DHR) last announced its earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The company’s 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 anticipate that Danaher Co. will post 4.79 EPS for the current fiscal year.
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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