Bangor Savings Bank Cuts Stake in Danaher Co. (NYSE:DHR)

Bangor Savings Bank cut its stake in Danaher Co. (NYSE:DHR) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,486 shares of the conglomerate’s stock after selling 48 shares during the quarter. Bangor Savings Bank’s holdings in Danaher were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DHR. Oak Thistle LLC bought a new stake in Danaher in the second quarter valued at about $363,000. Caden Capital Partners LP increased its holdings in shares of Danaher by 12.4% in the fourth quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock valued at $32,172,000 after buying an additional 15,313 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Danaher in the fourth quarter valued at $2,614,000. Norden Group LLC bought a new position in shares of Danaher in the first quarter valued at $4,151,000. Finally, Duality Advisers LP acquired a new stake in Danaher during the 1st quarter valued at $5,573,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Up 0.0 %

DHR opened at $268.81 on Wednesday. The company’s 50 day moving average price is $271.01 and its two-hundred day moving average price is $258.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $281.70. The firm has a market capitalization of $199.10 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 4.55 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Danaher’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Danaher Co. will post 7.59 earnings per share for the current year.

Danaher Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the completion of the sale, the chief financial officer now owns 29,407 shares in the company, valued at approximately $8,229,254.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the transaction, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,659 shares of company stock worth $11,042,433. Insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Barclays upped their price target on shares of Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Bank of America upped their price target on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. TD Cowen upped their price objective on shares of Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Danaher in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.12.

Danaher 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.