Parsec Financial Management Inc. Lowers Position in Danaher Co. (NYSE:DHR)

Parsec Financial Management Inc. cut its stake in Danaher Co. (NYSE:DHRGet Rating) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,646 shares of the conglomerate’s stock after selling 243 shares during the quarter. Parsec Financial Management Inc.’s holdings in Danaher were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of DHR. CIBC Private Wealth Group LLC increased its position in shares of Danaher by 0.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,080,241 shares of the conglomerate’s stock valued at $684,419,000 after acquiring an additional 5,891 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Danaher during the fourth quarter valued at $4,014,000. Brinker Capital Investments LLC grew its holdings in Danaher by 3.1% during the fourth quarter. Brinker Capital Investments LLC now owns 119,229 shares of the conglomerate’s stock valued at $39,227,000 after purchasing an additional 3,577 shares during the period. Hartline Investment Corp grew its holdings in Danaher by 1.5% during the fourth quarter. Hartline Investment Corp now owns 4,802 shares of the conglomerate’s stock valued at $1,580,000 after purchasing an additional 72 shares during the period. Finally, Stockman Wealth Management Inc. grew its holdings in Danaher by 3.2% during the fourth quarter. Stockman Wealth Management Inc. now owns 1,884 shares of the conglomerate’s stock valued at $620,000 after purchasing an additional 59 shares during the period. 82.84% of the stock is owned by hedge funds and other institutional investors.

Shares of Danaher stock traded down $5.87 during midday trading on Friday, hitting $251.13. The company had a trading volume of 3,225,216 shares, compared to its average volume of 2,868,812. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 1.68. The stock has a market capitalization of $182.59 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.79 and a beta of 0.78. The company has a 50 day moving average of $277.46 and a 200 day moving average of $293.71. Danaher Co. has a 52-week low of $238.32 and a 52-week high of $333.96.

Danaher (NYSE:DHRGet Rating) last released its quarterly earnings data on Thursday, April 21st. The conglomerate reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.10. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Danaher had a return on equity of 18.64% and a net margin of 21.32%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.52 EPS. Equities research analysts forecast that Danaher Co. will post 10.37 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Friday, March 25th were issued a $0.25 dividend. This is a boost from Danaher’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 24th. Danaher’s dividend payout ratio (DPR) is currently 11.57%.

In other news, EVP Joakim Weidemanis sold 6,500 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $255.74, for a total transaction of $1,662,310.00. Following the completion of the transaction, the executive vice president now owns 86,398 shares in the company, valued at $22,095,424.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian W. Ellis sold 5,365 shares of Danaher stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $293.99, for a total value of $1,577,256.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,373 shares of company stock worth $9,089,268. 11.20% of the stock is owned by insiders.

A number of equities analysts have recently commented on DHR shares. William Blair reaffirmed an “outperform” rating on shares of Danaher in a report on Friday, April 22nd. StockNews.com lowered Danaher from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. Royal Bank of Canada cut their price target on Danaher from $311.00 to $299.00 and set a “sector perform” rating for the company in a report on Friday, April 22nd. Sanford C. Bernstein started coverage on Danaher in a report on Monday, January 10th. They issued an “outperform” rating and a $365.00 price target for the company. Finally, Barclays cut their price target on Danaher from $355.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, January 27th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $331.14.

About Danaher (Get Rating)

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization; microscopes; genomics consumables; and Gene and Cell Therapy.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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