Envestnet Asset Management Inc. Acquires 49,761 Shares of Danaher Co. (NYSE:DHR)

Envestnet Asset Management Inc. raised its holdings in Danaher Co. (NYSE:DHR) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,273,800 shares of the conglomerate’s stock after buying an additional 49,761 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Danaher worth $318,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Danaher during the 4th quarter valued at $1,752,382,000. Vanguard Group Inc. increased its stake in shares of Danaher by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock worth $15,009,928,000 after purchasing an additional 4,163,657 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Danaher by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock valued at $6,460,966,000 after buying an additional 2,998,161 shares during the period. Swedbank AB purchased a new stake in Danaher during the first quarter valued at about $676,545,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Danaher by 214.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,073,661 shares of the conglomerate’s stock worth $711,051,000 after buying an additional 2,096,038 shares during the period. 79.05% of the stock is owned by institutional investors.

Danaher Trading Up 0.6 %

Shares of NYSE DHR opened at $274.25 on Friday. The firm has a 50-day moving average of $264.55 and a 200 day moving average of $256.50. The stock has a market cap of $198.07 billion, a P/E ratio of 46.48, 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 debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. As a group, sell-side analysts expect that Danaher Co. will post 7.59 EPS for the current fiscal year.

Danaher Dividend Announcement

The company 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 $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s payout ratio is currently 18.31%.

Insider Activity at Danaher

In other Danaher news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value 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 $8,229,254.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Rainer Blair sold 9,007 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at $27,435,240. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of Danaher stock in a transaction 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 owns 29,407 shares in the company, valued at approximately $8,229,254.88. 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. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen lifted their target price on Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus boosted their target price on Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company initiated coverage on Danaher in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective on the stock. Evercore ISI lowered their price objective on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Bank of America raised their target price on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $278.94.

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.