Empire Life Investments Inc. Has $6.66 Million Holding in Danaher Co. (DHR)

Empire Life Investments Inc. Has $6.66 Million Holding in Danaher Co. (DHR)

Empire Life Investments Inc. increased its position in Danaher Co. (NYSE:DHR) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 77,900 shares of the conglomerate’s stock after buying an additional 1,764 shares during the period. Empire Life Investments Inc.’s holdings in Danaher were worth $6,662,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DHR. Rehmann Capital Advisory Group raised its position in Danaher by 0.6% in the first quarter. Rehmann Capital Advisory Group now owns 2,959 shares of the conglomerate’s stock worth $253,000 after buying an additional 19 shares during the period. Alpha Windward LLC raised its position in Danaher by 0.8% in the first quarter. Alpha Windward LLC now owns 2,605 shares of the conglomerate’s stock worth $223,000 after buying an additional 21 shares during the period. Benin Management CORP raised its position in Danaher by 1.1% in the first quarter. Benin Management CORP now owns 4,070 shares of the conglomerate’s stock worth $348,000 after buying an additional 45 shares during the period. First Commonwealth Financial Corp PA raised its position in Danaher by 0.6% in the fourth quarter. First Commonwealth Financial Corp PA now owns 7,703 shares of the conglomerate’s stock worth $600,000 after buying an additional 47 shares during the period. Finally, Private Trust Co. NA raised its position in Danaher by 0.3% in the first quarter. Private Trust Co. NA now owns 19,081 shares of the conglomerate’s stock worth $1,632,000 after buying an additional 49 shares during the period. 76.14% of the stock is currently owned by institutional investors.

Danaher Co. (NYSE:DHR) opened at 86.84 on Friday. Danaher Co. has a 1-year low of $73.42 and a 1-year high of $88.01. The firm has a market cap of $60.28 billion, a price-to-earnings ratio of 26.47 and a beta of 1.00. The company’s 50-day moving average price is $83.71 and its 200 day moving average price is $82.76.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Thursday, April 20th. The conglomerate reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.17 billion. Danaher had a return on equity of 12.38% and a net margin of 12.84%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, equities analysts expect that Danaher Co. will post $3.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, June 28th. Danaher’s payout ratio is currently 13.66%.

A number of research firms have weighed in on DHR. Royal Bank of Canada reissued a “sector perform” rating and set a $88.00 price objective (down previously from $89.00) on shares of Danaher in a research note on Friday, April 21st. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Danaher in a research note on Sunday, April 23rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $93.00 price target on shares of Danaher in a research note on Wednesday, May 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Danaher in a research note on Sunday, April 23rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $92.29.

In related news, SVP Angela S. Lalor sold 10,815 shares of Danaher stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $84.16, for a total value of $910,190.40. Following the transaction, the senior vice president now owns 39,020 shares in the company, valued at $3,283,923.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Patrick Joyce, Jr. sold 54,006 shares of Danaher stock in a transaction on Friday, April 21st. The shares were sold at an average price of $82.52, for a total value of $4,456,575.12. Following the completion of the transaction, the insider now owns 142,157 shares in the company, valued at approximately $11,730,795.64. The disclosure for this sale can be found here. Insiders sold 82,265 shares of company stock worth $6,815,839 in the last quarter. 12.60% of the stock is owned by insiders.

Danaher Company Profile

Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which 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; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DHR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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