Axxcess Wealth Management LLC Lowers Stake in Danaher Co. (NYSE:DHR)

Axxcess Wealth Management LLC lessened its holdings in Danaher Co. (NYSE:DHR) by 13.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,388 shares of the conglomerate’s stock after selling 2,160 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Danaher were worth $3,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DHR. Sargent Investment Group LLC grew its stake in shares of Danaher by 30.6% in the second quarter. Sargent Investment Group LLC now owns 11,252 shares of the conglomerate’s stock worth $2,811,000 after acquiring an additional 2,635 shares during the last quarter. Primecap Management Co. CA boosted its stake in Danaher by 3.4% in the 2nd quarter. Primecap Management Co. CA now owns 66,937 shares of the conglomerate’s stock worth $16,724,000 after purchasing an additional 2,200 shares in the last quarter. Moors & Cabot Inc. grew its position in Danaher by 14.0% during the 2nd quarter. Moors & Cabot Inc. now owns 2,540 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 311 shares during the last quarter. Lmcg Investments LLC increased its stake in Danaher by 5.6% during the 2nd quarter. Lmcg Investments LLC now owns 94,142 shares of the conglomerate’s stock valued at $23,521,000 after purchasing an additional 4,983 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its holdings in Danaher by 9.3% in the second quarter. WealthPLAN Partners LLC now owns 15,643 shares of the conglomerate’s stock worth $3,908,000 after buying an additional 1,327 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

DHR opened at $272.48 on Wednesday. The company’s 50 day moving average is $265.91 and its 200 day moving average is $256.78. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $201.82 billion, a price-to-earnings ratio of 46.18, a PEG ratio of 4.48 and a beta of 0.83. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share 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 the consensus estimate of $5.59 billion. During the same period last year, the firm earned $2.05 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that Danaher Co. will post 7.59 EPS for the current year.

Danaher Announces Dividend

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

Insider Buying and Selling at Danaher

In other news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the transaction, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the transaction, the senior vice president now owns 20,230 shares in the company, valued at approximately $5,566,486.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,659 shares of company stock valued at $11,042,433. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of recent analyst reports. Bank of America increased 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. Barclays increased their target price on Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Evercore ISI decreased their price target on Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird increased their price objective on Danaher from $271.00 to $278.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their target price on Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.94.

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.