Cigna Investments Inc. New grew its position in shares of Danaher Co. (NYSE:DHR) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,835 shares of the conglomerate’s stock after buying an additional 1,080 shares during the period. Cigna Investments Inc. New’s holdings in Danaher were worth $2,468,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lion Street Advisors LLC purchased a new position in shares of Danaher during the 1st quarter valued at $25,000. JJJ Advisors Inc. purchased a new stake in Danaher during the 4th quarter worth about $26,000. Archer Investment Corp purchased a new stake in Danaher during the 4th quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new stake in Danaher during the 4th quarter worth about $28,000. Finally, Tobias Financial Advisors Inc. purchased a new stake in Danaher during the 4th quarter worth about $30,000. 77.88% of the stock is currently owned by hedge funds and other institutional investors.
DHR has been the topic of a number of recent research reports. Needham & Company LLC dropped their price objective on Danaher from $187.00 to $183.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Citigroup upped their target price on Danaher from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Piper Sandler upped their target price on Danaher from $142.00 to $174.00 in a research note on Thursday, January 30th. Royal Bank of Canada upped their target price on Danaher from $159.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Cowen restated a “buy” rating and issued a $170.00 target price on shares of Danaher in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $168.69.
Danaher (NYSE:DHR) last issued its earnings results on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.05. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Danaher had a return on equity of 11.52% and a net margin of 16.85%. Danaher’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. Sell-side analysts expect that Danaher Co. will post 4.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.45%. The ex-dividend date is Thursday, June 25th. Danaher’s dividend payout ratio (DPR) is currently 16.29%.
In other Danaher news, SVP Daniel Raskas sold 37,082 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.09, for a total value of $6,084,785.38. Following the completion of the sale, the senior vice president now owns 19,723 shares in the company, valued at approximately $3,236,347.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert S. Lutz sold 33,892 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $161.68, for a total value of $5,479,658.56. Following the completion of the sale, the chief accounting officer now owns 18,950 shares of the company’s stock, valued at approximately $3,063,836. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,974 shares of company stock valued at $11,564,444. Company insiders own 11.70% of the company’s stock.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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