Industrial Alliance Investment Management Inc. Reduces Position in Danaher Co. (NYSE:DHR)

Industrial Alliance Investment Management Inc. trimmed its holdings in Danaher Co. (NYSE:DHR) by 69.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447 shares of the conglomerate’s stock after selling 1,023 shares during the quarter. Danaher comprises approximately 0.1% of Industrial Alliance Investment Management Inc.’s portfolio, making the stock its 22nd largest holding. Industrial Alliance Investment Management Inc.’s holdings in Danaher were worth $112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cape Investment Advisory Inc. purchased a new stake in shares of Danaher in the 4th quarter valued at approximately $25,000. Tsfg LLC grew its position in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new stake in Danaher during the second quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in Danaher in the first quarter valued at $30,000. Finally, Richardson Financial Services Inc. purchased a new stake in Danaher in the fourth quarter valued at $42,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DHR shares. Robert W. Baird raised their price objective on Danaher from $271.00 to $278.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group began coverage on shares of Danaher in a research note on Monday, June 3rd. They set a “buy” rating and a $295.00 target price for the company. Bank of America boosted their price target 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. Leerink Partners increased their price objective on shares of Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company began coverage on Danaher in a research report on Tuesday. They issued an “equal weight” rating and a $280.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average price target of $278.94.

Insiders Place Their Bets

In other news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the sale, the senior vice president now directly owns 4,212 shares in the company, valued at approximately $1,130,374.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the completion of the sale, the senior vice president now directly owns 20,230 shares of the company’s stock, valued at approximately $5,566,486.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Georgeann Couchara sold 952 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. The disclosure for this sale can be found here. Insiders sold 39,659 shares of company stock worth $11,042,433 in the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Danaher Stock Up 0.9 %

NYSE:DHR traded up $2.29 during midday trading on Friday, reaching $269.31. The company had a trading volume of 4,595,672 shares, compared to its average volume of 2,803,002. The stock’s fifty day simple moving average is $259.76 and its 200-day simple moving average is $254.94. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $281.70. The firm has a market capitalization of $199.47 billion, a price-to-earnings ratio of 45.65, a PEG ratio of 4.62 and a beta of 0.83.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the business posted $2.05 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Company 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.