Edgestream Partners L.P. Sells 24,172 Shares of Danaher Co. (NYSE:DHR)

Edgestream Partners L.P. reduced its stake in shares of Danaher Co. (NYSE:DHR) by 92.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,937 shares of the conglomerate’s stock after selling 24,172 shares during the quarter. Edgestream Partners L.P.’s holdings in Danaher were worth $484,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DHR. Cape Investment Advisory Inc. bought a new stake in shares of Danaher during the fourth quarter valued at approximately $25,000. Tsfg LLC boosted its stake in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in Danaher in the second quarter valued at approximately $25,000. nVerses Capital LLC bought a new position in Danaher in the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Danaher in the first quarter valued at approximately $30,000. 79.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DHR has been the topic of a number of recent research reports. Wells Fargo & Company assumed coverage on shares of Danaher in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price objective on the stock. Barclays increased their target price on shares of Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Leerink Partners increased their target price on shares of Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America increased their target price on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, TD Cowen increased their target price on shares of Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Danaher currently has a consensus rating of “Moderate Buy” and an average target price of $278.94.

Danaher Stock Down 1.4 %

Danaher stock opened at $272.63 on Monday. The company has a market cap of $201.93 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of 4.48 and a beta of 0.83. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $281.70. The company has a fifty day simple moving average of $267.62 and a 200 day simple moving average of $257.19. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. Research analysts anticipate that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity

In other news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the transaction, the chief executive officer now owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The disclosure for this sale can be found here. Insiders sold a total of 39,659 shares of company stock valued at $11,042,433 in the last quarter. Company insiders own 11.10% of the company’s stock.

Danaher Company Profile

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.