Lake Street Advisors Group LLC Reduces Position in Danaher Co. (NYSE:DHR)

Lake Street Advisors Group LLC trimmed its stake in Danaher Co. (NYSE:DHR) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,896 shares of the conglomerate’s stock after selling 190 shares during the period. Lake Street Advisors Group LLC’s holdings in Danaher were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in DHR. Canal Capital Management LLC raised its stake in shares of Danaher by 1.8% during the 3rd quarter. Canal Capital Management LLC now owns 15,006 shares of the conglomerate’s stock worth $4,172,000 after acquiring an additional 265 shares in the last quarter. Mount Yale Investment Advisors LLC increased its stake in Danaher by 22.3% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 3,231 shares of the conglomerate’s stock valued at $898,000 after purchasing an additional 590 shares in the last quarter. Eagle Ridge Investment Management acquired a new position in Danaher during the 3rd quarter valued at approximately $223,000. Dakota Wealth Management increased its stake in Danaher by 1.0% during the 3rd quarter. Dakota Wealth Management now owns 8,161 shares of the conglomerate’s stock valued at $2,269,000 after purchasing an additional 82 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. increased its stake in Danaher by 2.0% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 5,161 shares of the conglomerate’s stock valued at $1,435,000 after purchasing an additional 101 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company assumed coverage on shares of Danaher in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target on the stock. Leerink Partners upped their price objective on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Bank of America increased their price target on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird decreased their price objective on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and a consensus price target of $287.28.

Insider Activity at Danaher

In related news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Rainer Blair sold 9,007 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the transaction, the chief executive officer now owns 97,983 shares in the company, valued at $27,435,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,059 shares of company stock valued at $8,400,897 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Danaher Stock Performance

Shares of DHR traded up $1.20 during trading hours on Friday, reaching $249.20. 567,521 shares of the company’s stock traded hands, compared to its average volume of 2,730,218. The firm has a market capitalization of $184.58 billion, a price-to-earnings ratio of 42.01, a P/E/G ratio of 4.49 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 twelve month low of $182.09 and a twelve month high of $281.70. The business’s fifty day simple moving average is $270.43 and its two-hundred day simple moving average is $260.43.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for 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 up 3.1% compared to the same quarter last year. During the same period last year, the company earned $2.02 earnings per share. Analysts predict that Danaher Co. will post 7.59 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.43%. Danaher’s dividend payout ratio is currently 18.31%.

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.