Gardner Lewis Asset Management L P Buys New Position in Danaher Co. (NYSE:DHR)

Gardner Lewis Asset Management L P purchased a new position in Danaher Co. (NYSE:DHR) during the 2nd quarter, Holdings Channel reports. The fund purchased 2,673 shares of the conglomerate’s stock, valued at approximately $668,000.

Several other institutional investors and hedge funds have also modified their holdings of DHR. Cape Investment Advisory Inc. purchased a new position in Danaher during the fourth quarter valued at $25,000. Tsfg LLC lifted its position in shares of Danaher by 733.3% during the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after buying an additional 88 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Danaher during the 2nd quarter valued at about $25,000. nVerses Capital LLC bought a new position in shares of Danaher during the 2nd quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Danaher during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Trading Down 1.3 %

DHR stock opened at $272.48 on Wednesday. The company has a market capitalization of $201.82 billion, a PE ratio of 46.18, a P/E/G ratio of 4.48 and a beta of 0.83. 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 Co. has a 12 month low of $182.09 and a 12 month high of $281.70. The firm’s 50-day moving average is $265.91 and its 200 day moving average is $256.78.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. The firm 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%. Danaher’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, research analysts anticipate that Danaher Co. will post 7.59 EPS for the current year.

Danaher Announces Dividend

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. The ex-dividend date is Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.40%. Danaher’s payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DHR. Jefferies Financial Group began coverage on shares of Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price target for the company. Bank of America upped their price objective on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Leerink Partners lifted their target price on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen boosted their target price on shares of Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus boosted their price target on shares of Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.94.

Insider Buying and Selling

In other news, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $279.84, for a total value of $4,525,572.48. Following the completion of the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the transaction, the senior vice president now owns 20,230 shares in the company, valued at $5,566,486.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The disclosure for this sale can be found here. Insiders sold a total of 39,659 shares of company stock valued at $11,042,433 over the last three months. 11.10% of the stock is owned by company insiders.

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.