Roanoke Asset Management Corp NY reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,259 shares of the conglomerate’s stock after selling 2,785 shares during the period. Danaher Corporation accounts for about 1.5% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 24th largest position. Roanoke Asset Management Corp NY’s holdings in Danaher Corporation were worth $3,229,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position 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 last quarter. BlackRock Inc. increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. Hedge funds and other institutional investors own 76.12% of the company’s stock.
Shares of Danaher Corporation (DHR) opened at 80.87 on Friday. The firm has a 50-day moving average of $82.32 and a 200 day moving average of $84.22. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.01. The company has a market capitalization of $56.18 billion, a PE ratio of 25.81 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
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DHR has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $88.00 price objective (down previously from $89.00) on shares of Danaher Corporation in a research report on Friday, April 21st. Zacks Investment Research downgraded shares of Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BTIG Research reissued a “buy” rating and set a $92.00 price target on shares of Danaher Corporation in a research report on Sunday, April 23rd. Cowen and Company reissued an “outperform” rating and set a $90.00 price target on shares of Danaher Corporation in a research report on Sunday, April 23rd. Finally, William Blair reissued an “outperform” rating on shares of Danaher Corporation in a research report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued 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 news, SVP Angela S. Lalor sold 10,815 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was 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 of the company’s stock, valued at $3,283,923.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $83.03, for a total value of $878,291.34. Following the transaction, the director now directly owns 42,151 shares in the company, valued at approximately $3,499,797.53. The disclosure for this sale can be found here. Insiders have sold 38,623 shares of company stock worth $3,206,426 in the last ninety days. 12.20% of the stock is currently owned by 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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