Meyer Handelman Co. Reduces Holdings in Danaher Co. (NYSE:DHR)

Meyer Handelman Co. lessened its position in shares of Danaher Co. (NYSE:DHR) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,523 shares of the conglomerate’s stock after selling 2,000 shares during the quarter. Meyer Handelman Co.’s holdings in Danaher were worth $14,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DHR. Tsfg LLC increased its position in shares of Danaher by 733.3% during the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 88 shares during the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of Danaher during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Danaher in the 1st quarter worth approximately $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Danaher during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Danaher in the 4th quarter valued at approximately $36,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Up 0.6 %

Shares of NYSE DHR traded up $1.51 during midday trading on Tuesday, hitting $268.71. 1,811,464 shares of the company’s stock were exchanged, compared to its average volume of 2,887,203. The firm’s fifty day simple moving average is $257.53 and its 200-day simple moving average is $252.98. The company has a market cap of $199.03 billion, a PE ratio of 45.54, a P/E/G ratio of 4.62 and a beta of 0.83. Danaher Co. has a twelve month low of $182.09 and a twelve month high of $281.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. Research analysts predict that Danaher Co. will post 7.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DHR shares. SVB Leerink raised their price target on Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. HSBC upgraded shares of Danaher from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $280.00 in a research note on Wednesday, April 17th. Bank of America raised their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their target price on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, TD Cowen raised their price target on shares of Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $276.88.

Insider Transactions at Danaher

In related news, CFO Matthew Mcgrew sold 16,172 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Linda Filler sold 3,928 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $279.50, for a total value of $1,097,876.00. Following the completion of the sale, the director now directly owns 41,149 shares of the company’s stock, valued at $11,501,145.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Mcgrew sold 16,172 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,712 shares of company stock worth $13,173,269. Corporate 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.