AlphaCore Capital LLC Acquires 6,134 Shares of Danaher Corporation (NYSE:DHR)
AlphaCore Capital LLC increased its stake in Danaher Corporation (NYSE:DHR) by 168.9% in Q1, acquiring an additional 6,134 shares, bringing its total to 9,766 shares valued at $2,002,000. Other hedge funds also adjusted their holdings, with Fayez Sarofim & Co and Mitsubishi UFJ Asset Management increasing their positions. Danaher reported Q2 earnings of $1.80 EPS, exceeding estimates, with revenue of $5.94 billion. Analysts have varied price targets for Danaher, with JPMorgan lowering its target from $280 to $260, while others maintain buy or outperform ratings.
AlphaCore Capital LLC grew its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 168.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,766 shares of the conglomerate's stock after acquiring an additional 6,134 shares during the period. AlphaCore Capital LLC's holdings in Danaher were worth $2,002,000 as of its most recent SEC filing.
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A number of other hedge funds have also recently modified their holdings of the business. Fayez Sarofim & Co increased its position in Danaher by 2.0% in the first quarter. Fayez Sarofim & Co now owns 8,454 shares of the conglomerate's stock worth $1,733,000 after buying an additional 167 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Danaher by 11.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,145,711 shares of the conglomerate's stock worth $234,871,000 after acquiring an additional 122,015 shares in the last quarter. Evernest Financial Advisors LLC raised its stake in Danaher by 4.6% during the 1st quarter. Evernest Financial Advisors LLC now owns 4,962 shares of the conglomerate's stock worth $1,017,000 after acquiring an additional 216 shares during the period. Headlands Technologies LLC raised its stake in Danaher by 30.6% during the 1st quarter. Headlands Technologies LLC now owns 54,640 shares of the conglomerate's stock worth $11,201,000 after acquiring an additional 12,816 shares during the period. Finally, 1834 Investment Advisors Co. lifted its holdings in Danaher by 3.3% during the first quarter. 1834 Investment Advisors Co. now owns 1,666 shares of the conglomerate's stock valued at $342,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 79.05% of the company's stock.
Insider Transactions at Danaher
In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the transaction, the chairman owned 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by insiders.
Danaher Price Performance
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Danaher stock opened at $198.48 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $279.90. The firm's fifty day moving average is $198.24 and its 200 day moving average is $201.53. The company has a market cap of $142.12 billion, a price-to-earnings ratio of 42.23, a PEG ratio of 2.72 and a beta of 0.73.
Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the company earned $1.72 earnings per share. Danaher's revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Danaher Corporation will post 7.63 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
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A number of analysts have recently issued reports on DHR shares. JPMorgan Chase & Co. reduced their price objective on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group cut their price target on Danaher from $260.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Danaher from $240.00 to $235.00 in a research report on Thursday, June 5th. Finally, Evercore ISI decreased their target price on Danaher from $230.00 to $226.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $247.61.
View Our Latest Stock Analysis on Danaher
Danaher Profile
(Free Report)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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