The Manufacturers Life Insurance Company has increased its stake in Danaher Co. (NYSE:DHR) by 4.6% during the fourth quarter, as disclosed in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor now owns 1,945,109 shares of the conglomerate’s stock, having purchased an additional 85,010 shares during the quarter. This stake represents approximately 0.27% of Danaher, valued at $446,500,000 as of the latest filing.
Other institutional investors and hedge funds have also recently adjusted their positions in Danaher. Notable changes include:
- Bellwether Advisors LLC establishing a new position worth approximately $135,000
- Marshall & Sterling Wealth Advisors Inc. initiating a position worth $257,000
- NZS Capital LLC increasing its stake by 5.0%, now owning 338,173 shares valued at $77,628,000
- Whalerock Point Partners LLC boosting its position by 7.6%, now holding 6,645 shares worth $1,525,000
- Prosperity Consulting Group LLC growing its stake by 2.4%, now owning 5,029 shares valued at $1,154,000
In total, hedge funds and other institutional investors hold 79.05% of Danaher’s stock. Insider activity includes SVP Brian W. Ellis selling 5,700 shares on January 30th at an average price of $224.13, reducing his holding by 21.98%.
Danaher Co. (NYSE:DHR) stock performance:
- Opened at $197.37 on Monday
- Debt-to-equity ratio: 0.31
- Quick ratio: 1.05
- Current ratio: 1.40
- Fifty-day moving average: $200.87
- Two-hundred-day moving average: $223.98
- Fifty-two-week low: $171.00
- Fifty-two-week high: $281.70
- Market capitalization: $141.25 billion
- PE ratio: 37.38
The company recently reported earnings per share of $1.88 for the quarter, surpassing the consensus estimate of $1.62. Danaher also announced a quarterly dividend increase to $0.32 per share, representing an annualized yield of 0.65%.
Analyst ratings:
- Wells Fargo & Company: ‘equal weight’ rating, price target reduced to $240.00
- Jefferies Financial Group: ‘buy’ rating, price target lowered to $230.00
- Guggenheim: ‘buy’ rating, $250.00 target price
- Citigroup: ‘buy’ rating reaffirmed
- Royal Bank of Canada: ‘outperform’ rating, $250.00 price objective
The consensus among analysts is ‘Moderate Buy’ with an average target price of $264.40.
