Danaher Co. (NYSE:DHR) Short Interest Update

Danaher Co. (NYSE:DHR) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 7,700,000 shares, a growth of 8.1% from the May 31st total of 7,120,000 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 2,890,000 shares, the short-interest ratio is presently 2.7 days.

Insiders Place Their Bets

In related news, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the sale, the director now directly owns 116,202 shares in the company, valued at approximately $28,304,483.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rainer Blair sold 47,175 shares of Danaher stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the transaction, the chief executive officer now owns 115,995 shares in the company, valued at $28,908,273.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan G. Spoon sold 708 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the sale, the director now owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The disclosure for this sale can be found here. Insiders sold 148,783 shares of company stock worth $37,536,717 over the last three months. Insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DHR. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Danaher by 20.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after purchasing an additional 1,533 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Danaher by 0.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after buying an additional 149 shares during the last quarter. Cercano Management LLC lifted its position in shares of Danaher by 11.4% during the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock worth $46,862,000 after buying an additional 20,715 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Danaher by 48.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock worth $68,707,000 after buying an additional 96,395 shares during the last quarter. Finally, Donaldson Capital Management LLC increased its position in shares of Danaher by 5.8% during the first quarter. Donaldson Capital Management LLC now owns 1,469 shares of the conglomerate’s stock valued at $367,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DHR. TD Cowen upped their price target on Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI lowered their price target on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a report on Tuesday. HSBC upgraded shares of Danaher from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $280.00 in a research report on Wednesday, April 17th. Citigroup increased their price objective on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays boosted their target price on shares of Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.67.

Danaher Stock Down 0.1 %

Shares of DHR traded down $0.20 during trading hours on Wednesday, reaching $240.21. The stock had a trading volume of 1,935,826 shares, compared to its average volume of 2,868,708. The company has a market capitalization of $177.92 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 3.82 and a beta of 0.84. The firm has a 50-day simple moving average of $255.88 and a 200 day simple moving average of $246.95. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Danaher has a 12 month low of $182.09 and a 12 month high of $269.11.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the company earned $2.36 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Equities research analysts predict that Danaher will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, June 28th. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

About Danaher

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.