California Public Employees Retirement System Purchases 404,719 Shares of Danaher Corporation $DHR

by · The Cerbat Gem

California Public Employees Retirement System lifted its holdings in Danaher Corporation (NYSE:DHR – Free Report) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,771,851 shares of the conglomerate’s stock after buying an additional 404,719 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Danaher worth $351,287,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. WFA of San Diego LLC bought a new stake in Danaher during the second quarter worth $26,000. Howard Hughes Medical Institute purchased a new position in Danaher in the second quarter worth $27,000. ANTIPODES PARTNERS Ltd bought a new position in Danaher in the 3rd quarter valued at $27,000. TruNorth Capital Management LLC purchased a new stake in shares of Danaher during the 3rd quarter valued at $28,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Danaher during the 3rd quarter valued at $31,000. 79.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Danaher in a report on Thursday, January 29th. Leerink Partners raised their price objective on shares of Danaher from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. HSBC boosted their target price on shares of Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Morgan Stanley began coverage on shares of Danaher in a research report on Monday, December 1st. They set an “overweight” rating and a $270.00 target price for the company. Finally, Evercore restated an “outperform” rating and set a $254.00 price target on shares of Danaher in a research note on Wednesday, January 28th. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.55.

View Our Latest Research Report on Danaher

Insiders Place Their Bets

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the sale, the executive vice president owned 5,099 shares of the company’s stock, valued at $1,060,642.99. The trade was a 20.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Danaher Trading Up 0.6%

Shares of Danaher stock opened at $187.34 on Friday. The stock has a market capitalization of $132.47 billion, a P/E ratio of 37.17, a P/E/G ratio of 2.54 and a beta of 0.93. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $242.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. The stock’s 50-day simple moving average is $218.79 and its 200 day simple moving average is $215.41.

Danaher (NYSE:DHR – Get Free Report) last issued its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.09. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.14 earnings per share. As a group, research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be issued a $0.40 dividend. This is a boost from Danaher’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 27th. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher’s payout ratio is 25.40%.

Danaher Company Profile

(Free Report)

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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