Orrstown Financial Services Inc. Cuts Stock Position in Danaher Co. (NYSE:DHR)

Orrstown Financial Services Inc. decreased its holdings in shares of Danaher Co. (NYSE:DHR) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,125 shares of the conglomerate’s stock after selling 414 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Danaher were worth $231,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DHR. LaFleur & Godfrey LLC increased its position in shares of Danaher by 1.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 29,855 shares of the conglomerate’s stock valued at $6,853,000 after purchasing an additional 440 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Danaher during the fourth quarter worth $74,551,000. Strategic Financial Concepts LLC bought a new position in Danaher during the fourth quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Danaher in the fourth quarter valued at $31,000. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Danaher by 5.8% in the 4th quarter. Cidel Asset Management Inc. now owns 1,810 shares of the conglomerate’s stock worth $415,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Insider Transactions at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the sale, the executive vice president now directly owns 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chairman now directly owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Danaher Trading Up 2.1%

Shares of NYSE DHR opened at $196.13 on Monday. The business has a fifty day moving average price of $191.34 and a 200 day moving average price of $212.03. Danaher Co. has a 1-year low of $171.00 and a 1-year high of $281.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.05. The stock has a market capitalization of $140.36 billion, a P/E ratio of 37.15, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Danaher had a net margin of 16.33% and a return on equity of 10.82%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Equities research analysts expect that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.65%. Danaher’s dividend payout ratio is presently 24.85%.

Analysts Set New Price Targets

Several brokerages recently commented on DHR. Barclays upped their price target on shares of Danaher from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Robert W. Baird cut their target price on Danaher from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Citigroup reissued a “buy” rating on shares of Danaher in a research note on Monday, April 7th. The Goldman Sachs Group cut their price objective on Danaher from $260.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus upgraded Danaher from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Friday, March 14th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.24.

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.