Cornerstone Advisors Inc. increased its position in Danaher Corporation (NYSE:DHR) by 62.0% during the second quarter, Holdings Channel reports. The fund owned 2,111 shares of the conglomerate’s stock after buying an additional 808 shares during the period. Cornerstone Advisors Inc.’s holdings in Danaher Corporation were worth $178,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of DHR. Acadian Asset Management LLC raised its position in Danaher Corporation by 39.6% in the second quarter. Acadian Asset Management LLC now owns 1,491,125 shares of the conglomerate’s stock worth $125,838,000 after buying an additional 422,747 shares during the last quarter. Benin Management CORP raised its stake in Danaher Corporation by 2.5% in the second quarter. Benin Management CORP now owns 4,170 shares of the conglomerate’s stock valued at $352,000 after buying an additional 100 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in Danaher Corporation by 144.1% in the second quarter. Cypress Asset Management Inc. TX now owns 47,370 shares of the conglomerate’s stock valued at $3,998,000 after buying an additional 27,965 shares in the last quarter. Investment Partners Ltd. OH ADV acquired a new stake in Danaher Corporation during the second quarter valued at about $225,000. Finally, Osborne Partners Capital Management LLC raised its stake in Danaher Corporation by 0.8% in the second quarter. Osborne Partners Capital Management LLC now owns 184,408 shares of the conglomerate’s stock valued at $15,562,000 after buying an additional 1,432 shares in the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.
Danaher Corporation (NYSE:DHR) traded down 0.05% during midday trading on Friday, reaching $80.87. The company’s stock had a trading volume of 2,861,306 shares. Danaher Corporation has a one year low of $75.71 and a one year high of $88.01. The firm has a 50 day moving average price of $82.32 and a 200 day moving average price of $84.22. The firm has a market cap of $56.18 billion, a P/E ratio of 25.81 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Danaher Corporation will post $3.95 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $88.00 price objective (down previously from $89.00) on shares of Danaher Corporation in a research note on Friday, April 21st. BidaskClub lowered Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Danaher Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. set a $96.00 price objective on Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Janney Montgomery Scott lowered Danaher Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Danaher Corporation currently has a consensus rating of “Buy” and an average target price of $91.76.
In other Danaher Corporation news, SVP Angela S. Lalor sold 10,815 shares of the 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 completion of the transaction, the senior vice president now owns 39,020 shares of the company’s stock, valued at approximately $3,283,923.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William King sold 7,458 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $82.97, for a total transaction of $618,790.26. Following the transaction, the insider now directly owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The disclosure for this sale can be found here. Insiders have sold a total of 38,623 shares of company stock valued at $3,206,426 in the last three months. Insiders own 12.20% of the company’s stock.
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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