Rafferty Asset Management LLC raised its position in Danaher Co. (NYSE:DHR) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,140 shares of the conglomerate’s stock after acquiring an additional 314 shares during the quarter. Rafferty Asset Management LLC’s holdings in Danaher were worth $3,526,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Danaher in the second quarter valued at approximately $26,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Danaher by 146.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the conglomerate’s stock worth $27,000 after buying an additional 60 shares during the last quarter. McCarthy Asset Management Inc. purchased a new position in shares of Danaher in the second quarter worth $27,000. Burleson & Company LLC purchased a new position in shares of Danaher in the first quarter worth $40,000. Finally, MV Capital Management Inc. raised its holdings in shares of Danaher by 79.0% in the second quarter. MV Capital Management Inc. now owns 188 shares of the conglomerate’s stock worth $50,000 after buying an additional 83 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.
DHR has been the subject of a number of research analyst reports. Credit Suisse Group raised their price target on shares of Danaher from $306.00 to $370.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. Cowen raised their price target on shares of Danaher from $275.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Bank of America raised their price target on shares of Danaher from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, September 10th. Barclays raised their target price on shares of Danaher from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, July 23rd. Finally, Royal Bank of Canada raised their target price on shares of Danaher from $304.00 to $332.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 8th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $321.53.
DHR stock opened at $324.09 on Wednesday. The firm has a market cap of $231.37 billion, a PE ratio of 43.15, a P/E/G ratio of 1.93 and a beta of 0.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.88 and a current ratio of 2.26. The firm’s fifty day moving average is $306.67 and its 200 day moving average is $265.68. Danaher Co. has a one year low of $201.44 and a one year high of $333.96.
Danaher (NYSE:DHR) last released its quarterly earnings results on Thursday, July 22nd. The conglomerate reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.41. The company had revenue of $7.22 billion for the quarter, compared to analyst estimates of $6.71 billion. Danaher had a net margin of 21.00% and a return on equity of 17.68%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the business earned $1.44 earnings per share. Research analysts predict that Danaher Co. will post 9.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.26%. Danaher’s dividend payout ratio is presently 13.31%.
Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment 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.
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