Hedeker Wealth LLC Sells 45 Shares of Danaher Co. (NYSE:DHR)

Hedeker Wealth LLC lowered its stake in shares of Danaher Co. (NYSE:DHR) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,332 shares of the conglomerate’s stock after selling 45 shares during the quarter. Hedeker Wealth LLC’s holdings in Danaher were worth $2,830,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its position 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 valued at $2,112,000 after buying an additional 1,533 shares during the period. First Citizens Bank & Trust Co. grew its position in Danaher by 0.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after buying an additional 149 shares during the period. Cercano Management LLC grew its position in Danaher by 11.4% during the fourth quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after buying an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC grew its position in Danaher by 48.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after buying an additional 96,395 shares during the period. Finally, Caden Capital Partners LP lifted its holdings in Danaher by 12.4% during 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 last quarter. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of 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 objective on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Bank of America upped their price objective on shares of Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. HSBC raised shares of Danaher from a “hold” rating to a “buy” rating and upped their price objective for the company from $250.00 to $280.00 in a report on Wednesday, April 17th. Finally, Evercore ISI dropped their price objective on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $268.67.

Insider Buying and Selling

In related news, Director Alan G. Spoon sold 708 shares of Danaher stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the transaction, the director now directly owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Danaher news, SVP Brian W. Ellis sold 4,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $250.01, for a total transaction of $1,000,040.00. Following the transaction, the senior vice president now directly owns 29,830 shares of the company’s stock, valued at approximately $7,457,798.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the sale, the director now owns 116,202 shares in the company, valued at approximately $28,304,483.16. The disclosure for this sale can be found here. Insiders have sold a total of 148,783 shares of company stock valued at $37,536,717 over the last three months. 10.90% of the stock is owned by company insiders.

Danaher Price Performance

DHR traded up $1.64 on Wednesday, reaching $242.05. The company had a trading volume of 280,372 shares, compared to its average volume of 2,855,673. The business has a 50 day simple moving average of $256.13 and a 200 day simple moving average of $246.86. The company has a market cap of $179.28 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 3.82 and a beta of 0.84. 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 52-week low of $182.09 and a 52-week high of $269.11.

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

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, June 28th. Danaher’s payout ratio is 18.31%.

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.