Addison Advisors LLC Increases Stake in Danaher Co. (NYSE:DHR)

Addison Advisors LLC increased its holdings in shares of Danaher Co. (NYSE:DHR) by 11.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 667 shares of the conglomerate’s stock after buying an additional 67 shares during the period. Addison Advisors LLC’s holdings in Danaher were worth $167,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Palmer Knight Co boosted its stake in Danaher by 0.4% during the second quarter. Palmer Knight Co now owns 30,645 shares of the conglomerate’s stock worth $7,657,000 after acquiring an additional 108 shares in the last quarter. Arizona State Retirement System boosted its stake in Danaher by 1.2% during the second quarter. Arizona State Retirement System now owns 203,953 shares of the conglomerate’s stock worth $50,958,000 after acquiring an additional 2,508 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Danaher by 14.7% during the second quarter. Kornitzer Capital Management Inc. KS now owns 13,580 shares of the conglomerate’s stock worth $3,393,000 after acquiring an additional 1,743 shares in the last quarter. SouthState Corp lifted its stake in shares of Danaher by 2.1% in the second quarter. SouthState Corp now owns 99,433 shares of the conglomerate’s stock worth $24,843,000 after buying an additional 2,014 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in shares of Danaher by 1.7% in the second quarter. Mayflower Financial Advisors LLC now owns 2,534 shares of the conglomerate’s stock worth $633,000 after buying an additional 43 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

DHR has been the topic of several analyst reports. Barclays upped their target price on shares of Danaher from $270.00 to $285.00 and gave the stock an “equal weight” 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. Wells Fargo & Company assumed coverage on shares of Danaher in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 target price on the stock. Evercore ISI decreased their price objective on shares of Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price objective on shares of Danaher in a report on Friday. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and a consensus price target of $278.94.

Danaher Price Performance

Shares of NYSE:DHR opened at $266.19 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.43. The firm has a fifty day moving average price of $261.30 and a 200 day moving average price of $255.73. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $281.70. The firm has a market cap of $197.16 billion, a price-to-earnings ratio of 45.12, a P/E/G ratio of 4.43 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its earnings results 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. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. Danaher’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Danaher

In other Danaher news, SVP Brian W. Ellis sold 9,600 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the completion of the transaction, the senior vice president now owns 20,230 shares in the company, valued at $5,566,486.80. The transaction 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 the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the completion of the transaction, the senior vice president now owns 20,230 shares in the company, valued at $5,566,486.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now owns 4,212 shares of the company’s stock, 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 over the last 90 days. 11.10% of the stock is owned by insiders.

About Danaher

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.