AGF Investments America Inc. raised its stake in Danaher Co. (NYSE:DHR) by 11.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,753 shares of the conglomerate’s stock after purchasing an additional 10,098 shares during the quarter. Danaher comprises about 6.0% of AGF Investments America Inc.’s investment portfolio, making the stock its biggest position. AGF Investments America Inc.’s holdings in Danaher were worth $28,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Danaher by 0.6% in the second quarter. Vanguard Group Inc. now owns 49,369,413 shares of the conglomerate’s stock valued at $13,248,776,000 after purchasing an additional 270,880 shares during the period. BlackRock Inc. raised its position in Danaher by 3.1% in the third quarter. BlackRock Inc. now owns 45,621,495 shares of the conglomerate’s stock valued at $13,889,008,000 after purchasing an additional 1,360,659 shares during the period. FMR LLC raised its position in Danaher by 0.3% in the second quarter. FMR LLC now owns 28,604,508 shares of the conglomerate’s stock valued at $7,676,306,000 after purchasing an additional 86,302 shares during the period. State Street Corp raised its position in Danaher by 1.7% in the second quarter. State Street Corp now owns 25,205,192 shares of the conglomerate’s stock valued at $6,769,267,000 after purchasing an additional 419,736 shares during the period. Finally, Morgan Stanley raised its position in Danaher by 0.4% in the second quarter. Morgan Stanley now owns 13,727,018 shares of the conglomerate’s stock valued at $3,683,781,000 after purchasing an additional 50,426 shares during the period. 82.59% of the stock is currently owned by institutional investors.
DHR has been the subject of several recent analyst reports. Barclays raised their target price on Danaher from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, October 22nd. Robert W. Baird raised their target price on Danaher from $305.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 22nd. Wells Fargo & Company raised their target price on Danaher from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 14th. Sanford C. Bernstein initiated coverage on Danaher in a research note on Monday. They set an “outperform” rating and a $365.00 target price for the company. Finally, KeyCorp raised their target price on Danaher from $315.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Danaher has a consensus rating of “Buy” and an average target price of $341.07.
Danaher (NYSE:DHR) last issued its earnings results on Wednesday, October 20th. The conglomerate reported $2.39 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.24. Danaher had a return on equity of 18.32% and a net margin of 20.97%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. Danaher’s quarterly revenue was up 22.0% compared to the same quarter last year. Sell-side analysts anticipate that Danaher Co. will post 9.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Shareholders of record on Thursday, December 30th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, December 29th. This represents a $0.84 dividend on an annualized basis and a yield of 0.29%. Danaher’s payout ratio is currently 10.65%.
In other Danaher news, EVP Joakim Weidemanis sold 5,000 shares of Danaher stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $297.55, for a total value of $1,487,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elias A. Zerhouni sold 3,409 shares of Danaher stock in a transaction that occurred on Monday, November 29th. The shares were sold at an average price of $328.42, for a total value of $1,119,583.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 750,719 shares of company stock valued at $233,160,046. 11.40% of the stock is currently owned by insiders.
Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.
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