Corundum Group Inc. Lowers Position in Danaher Co. (NYSE:DHR)

Corundum Group Inc. lowered its stake in Danaher Co. (NYSE:DHR) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the conglomerate’s stock after selling 71 shares during the quarter. Corundum Group Inc.’s holdings in Danaher were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC lifted its stake in Danaher by 20.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock worth $2,112,000 after purchasing an additional 1,533 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Danaher by 0.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after acquiring an additional 149 shares during the period. Cercano Management LLC grew its position in Danaher by 11.4% in the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after acquiring an additional 20,715 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Danaher by 48.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock worth $68,707,000 after purchasing an additional 96,395 shares during the period. Finally, Caden Capital Partners LP boosted its stake in shares of Danaher by 12.4% in the fourth quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock valued at $32,172,000 after purchasing an additional 15,313 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup increased their price objective on Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their target price on Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price target on Danaher from $259.00 to $271.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, HSBC upgraded Danaher from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $280.00 in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $269.29.

Danaher Stock Performance

Danaher stock traded down $1.31 during midday trading on Thursday, hitting $252.28. 324,931 shares of the company’s stock were exchanged, compared to its average volume of 2,817,199. The stock has a market cap of $186.86 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 3.89 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.85. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $269.11. The firm’s 50 day simple moving average is $255.07 and its 200 day simple moving average is $246.14.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.36 earnings per share. Equities research analysts predict that Danaher Co. will post 7.63 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, June 28th. Danaher’s dividend payout ratio is currently 18.31%.

Insider Transactions at Danaher

In related news, CEO Rainer Blair sold 47,175 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the completion of the transaction, the chief executive officer now owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Danaher news, Director Alan G. Spoon sold 708 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the transaction, the director now owns 116,202 shares in the company, valued at approximately $28,304,483.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rainer Blair sold 47,175 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the sale, the chief executive officer now directly owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The disclosure for this sale can be found here. Insiders have sold a total of 148,783 shares of company stock worth $37,536,717 in the last three months. Company insiders own 11.10% of the company’s stock.

Danaher Profile

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.