Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Danaher Co. (NYSE:DHR - Free Report) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,187 shares of the conglomerate's stock after selling 3,393 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Danaher were worth $2,832,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of DHR. Benjamin Edwards Inc. boosted its stake in shares of Danaher by 1.8% in the second quarter. Benjamin Edwards Inc. now owns 2,153 shares of the conglomerate's stock valued at $538,000 after buying an additional 38 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Danaher by 3.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate's stock valued at $342,000 after acquiring an additional 38 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Danaher by 3.4% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,230 shares of the conglomerate's stock worth $307,000 after purchasing an additional 40 shares in the last quarter. Trust Co of Kansas increased its position in shares of Danaher by 4.1% in the second quarter. Trust Co of Kansas now owns 1,022 shares of the conglomerate's stock worth $255,000 after purchasing an additional 40 shares during the period. Finally, Abacus Planning Group Inc. raised its stake in Danaher by 0.7% in the second quarter. Abacus Planning Group Inc. now owns 5,439 shares of the conglomerate's stock valued at $1,359,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.
Shares of Danaher stock opened at $245.41 on Friday. The stock has a market cap of $177.25 billion, a price-to-earnings ratio of 46.83, a P/E/G ratio of 4.54 and a beta of 0.85. Danaher Co. has a twelve month low of $192.35 and a twelve month high of $281.70. The company's fifty day moving average is $264.89 and its 200 day moving average is $260.71. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32.
Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Sell-side analysts forecast that Danaher Co. will post 7.51 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.44%. Danaher's payout ratio is 20.61%.
In other news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.90% of the company's stock.
A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Danaher from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. Wolfe Research upgraded shares of Danaher from a "peer perform" rating to an "outperform" rating and set a $285.00 price target on the stock in a research report on Thursday, October 31st. Bank of America boosted their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Stephens reaffirmed an "overweight" rating and issued a $315.00 target price on shares of Danaher in a report on Wednesday, October 23rd. Finally, UBS Group lowered their price target on Danaher from $309.00 to $305.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Danaher presently has an average rating of "Moderate Buy" and an average price target of $287.16.
Read Our Latest Stock Report on DHR
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.
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