Chase Investment Counsel Corp Decreases Position in Danaher Corporation (DHR)

Chase Investment Counsel Corp reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,047 shares of the conglomerate’s stock after selling 3,375 shares during the period. Danaher Corporation comprises 1.8% of Chase Investment Counsel Corp’s portfolio, making the stock its 27th largest position. Chase Investment Counsel Corp’s holdings in Danaher Corporation were worth $3,632,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of DHR. Vanguard Group Inc. raised its stake in Danaher Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after buying an additional 1,530,015 shares during the period. BlackRock Inc. raised its stake in Danaher Corporation by 2,530.9% in the first quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock valued at $3,247,398,000 after buying an additional 36,524,795 shares during the period. FMR LLC raised its stake in Danaher Corporation by 0.3% in the first quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock valued at $1,662,803,000 after buying an additional 53,429 shares during the period. Parnassus Investments CA raised its stake in Danaher Corporation by 15.3% in the first quarter. Parnassus Investments CA now owns 8,622,528 shares of the conglomerate’s stock valued at $712,738,000 after buying an additional 1,143,284 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Danaher Corporation by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 7,645,818 shares of the conglomerate’s stock valued at $653,946,000 after buying an additional 50,673 shares during the period. 76.12% of the stock is currently owned by institutional investors.

Shares of Danaher Corporation (NYSE DHR) traded up 0.07% during mid-day trading on Tuesday, reaching $80.66. 621,243 shares of the company traded hands. The firm has a 50 day moving average of $82.75 and a 200-day moving average of $84.26. Danaher Corporation has a 52 week low of $75.71 and a 52 week high of $88.01. The stock has a market capitalization of $56.03 billion, a PE ratio of 25.75 and a beta of 1.03.

Danaher Corporation (NYSE:DHR) last announced its earnings results on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. On average, equities research analysts expect that Danaher Corporation will post $3.95 EPS for the current fiscal year.

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Several analysts have recently issued reports on DHR shares. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BTIG Research reissued a “buy” rating and issued a $92.00 price target on shares of Danaher Corporation in a research report on Sunday, April 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $88.00 price target (down previously from $89.00) on shares of Danaher Corporation in a research report on Friday, April 21st. BidaskClub raised shares of Danaher Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. set a $96.00 price objective on shares of Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $91.76.

In other news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the transaction, the insider now owns 155,520 shares in the company, valued at $12,718,425.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Angela S. Lalor sold 10,815 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $84.16, for a total transaction of $910,190.40. Following the transaction, the senior vice president now owns 39,020 shares in the company, valued at approximately $3,283,923.20. The disclosure for this sale can be found here. Insiders sold 38,623 shares of company stock valued at $3,206,426 over the last quarter. 12.20% of the stock is currently owned by corporate insiders.

About Danaher Corporation

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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