Procyon Advisors LLC Sells 1,571 Shares of Danaher Co. (NYSE:DHR)

Procyon Advisors LLC cut its position in shares of Danaher Co. (NYSE:DHR) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,661 shares of the conglomerate’s stock after selling 1,571 shares during the period. Procyon Advisors LLC’s holdings in Danaher were worth $2,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Danaher by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock valued at $15,009,928,000 after purchasing an additional 4,163,657 shares during the last quarter. Swedbank AB bought a new stake in shares of Danaher in the 1st quarter valued at approximately $676,545,000. TD Asset Management Inc lifted its stake in shares of Danaher by 99.0% in the 2nd quarter. TD Asset Management Inc now owns 1,358,706 shares of the conglomerate’s stock valued at $339,473,000 after purchasing an additional 675,952 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Danaher by 22.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,047,728 shares of the conglomerate’s stock valued at $761,475,000 after purchasing an additional 563,546 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Danaher during the 1st quarter worth approximately $98,913,000. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DHR shares. StockNews.com lowered Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Danaher in a research note on Friday, September 6th. Barclays raised their price target on Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Leerink Partners raised their price target on Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company initiated coverage on Danaher in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target for the company. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $282.12.

Danaher Trading Up 0.5 %

Shares of NYSE:DHR opened at $271.56 on Tuesday. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $281.70. The business’s fifty day simple moving average is $270.36 and its 200-day simple moving average is $259.43. The company has a market capitalization of $201.14 billion, a PE ratio of 46.03, a P/E/G ratio of 4.49 and a beta of 0.83. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. As a group, equities research analysts predict that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.40%. Danaher’s payout ratio is 18.31%.

Insider Transactions at Danaher

In other news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the completion of the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the completion of the sale, the senior vice president now owns 20,230 shares of the company’s stock, valued at approximately $5,566,486.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Mcgrew sold 16,172 shares of Danaher stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the sale, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,659 shares of company stock valued at $11,042,433 in the last quarter. 11.10% of the stock is currently owned by corporate insiders.

About Danaher

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.