Cornerstone Advisory LLC Reduces Stock Holdings in Danaher Co. (NYSE:DHR)

Cornerstone Advisory LLC lowered its holdings in shares of Danaher Co. (NYSE:DHR) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,982 shares of the conglomerate’s stock after selling 171 shares during the quarter. Cornerstone Advisory LLC’s holdings in Danaher were worth $921,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cape Investment Advisory Inc. bought a new position in shares of Danaher in the 4th quarter worth $25,000. BKM Wealth Management LLC purchased a new position in Danaher during the 4th quarter worth $27,000. Wetzel Investment Advisors Inc. purchased a new position in Danaher during the 4th quarter worth $29,000. Rakuten Securities Inc. purchased a new position in Danaher during the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new position in Danaher during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

NYSE DHR traded up $1.82 during trading hours on Tuesday, reaching $263.20. The company’s stock had a trading volume of 3,119,803 shares, compared to its average volume of 2,730,262. The firm has a market capitalization of $194.95 billion, a price-to-earnings ratio of 44.31, a P/E/G ratio of 3.93 and a beta of 0.85. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $268.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.85 and a quick ratio of 1.51. The company’s 50-day moving average is $250.66 and its two-hundred day moving average is $241.64.

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

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, June 28th. Danaher’s payout ratio is presently 18.31%.

Insider Activity at Danaher

In other Danaher news, SVP Brian W. Ellis sold 4,000 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $250.01, for a total transaction of $1,000,040.00. Following the completion of the transaction, the senior vice president now owns 29,830 shares of the company’s stock, valued at $7,457,798.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Rainer Blair sold 9,005 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $265.00, for a total value of $2,386,325.00. Following the sale, the chief executive officer now owns 106,990 shares in the company, valued at approximately $28,352,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian W. Ellis sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $250.01, for a total value of $1,000,040.00. Following the transaction, the senior vice president now owns 29,830 shares of the company’s stock, valued at $7,457,798.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,783 shares of company stock worth $37,536,717. Insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DHR. Citigroup boosted their target price on Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays boosted their price target on Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Bank of America boosted their price target on Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen boosted their price target on Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group began coverage on Danaher in a research note on Monday. They set a “buy” rating and a $295.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.29.

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.