PICTET BANK & TRUST Ltd trimmed its position in shares of Danaher Co. (NYSE:DHR) by 20.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,825 shares of the conglomerate’s stock after selling 9,400 shares during the quarter. Danaher accounts for approximately 1.0% of PICTET BANK & TRUST Ltd’s portfolio, making the stock its 21st largest holding. PICTET BANK & TRUST Ltd’s holdings in Danaher were worth $3,108,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Honeywell International Inc. acquired a new position in shares of Danaher during the second quarter worth about $25,317,000. Israel Discount Bank of New York acquired a new position in shares of Danaher during the first quarter worth about $209,000. Eastern Bank increased its stake in shares of Danaher by 4,291.1% during the second quarter. Eastern Bank now owns 128,001 shares of the conglomerate’s stock worth $10,802,000 after acquiring an additional 125,086 shares during the period. DE Burlo Group Inc. increased its stake in shares of Danaher by 17.8% during the first quarter. DE Burlo Group Inc. now owns 131,450 shares of the conglomerate’s stock worth $11,242,000 after acquiring an additional 19,900 shares during the period. Finally, Perkins Coie Trust Co increased its stake in shares of Danaher by 2.0% during the second quarter. Perkins Coie Trust Co now owns 29,431 shares of the conglomerate’s stock worth $2,484,000 after acquiring an additional 586 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.
In other Danaher news, Director Linda P. Hefner sold 10,578 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the transaction, the director now owns 42,151 shares in the company, valued at approximately $3,499,797.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William King sold 7,458 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $82.97, for a total value of $618,790.26. Following the transaction, the insider now owns 18,245 shares in the company, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. Insiders have sold a total of 71,496 shares of company stock worth $5,916,223 in the last quarter. Company insiders own 12.20% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $95.00 price target (up from $86.00) on shares of Danaher in a research note on Friday, October 6th. Zacks Investment Research raised shares of Danaher from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Thursday, October 5th. J P Morgan Chase & Co reissued an “overweight” rating and set a $95.00 price objective on shares of Danaher in a report on Friday, September 8th. Cowen and Company reissued a “buy” rating and set a $90.00 price objective on shares of Danaher in a report on Wednesday, October 4th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $83.00 price objective on shares of Danaher in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $92.62.
Shares of Danaher Co. (NYSE DHR) traded down 1.06% during trading on Tuesday, reaching $85.22. 1,307,866 shares of the company traded hands. The firm has a market capitalization of $59.20 billion, a PE ratio of 27.20 and a beta of 1.03. The firm has a 50-day moving average price of $85.95 and a 200-day moving average price of $84.19. Danaher Co. has a 12 month low of $75.71 and a 12 month high of $88.62.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher had a return on equity of 9.24% and a net margin of 12.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Equities research analysts anticipate that Danaher Co. will post $3.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, September 28th. Danaher’s payout ratio is 17.83%.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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