Pinnacle Associates Ltd. sells 651 shares of Danaher Co. (NYSE:DHR)

Pinnacle Associates Ltd. reduced its holdings in shares of Danaher Co. (NYSE:DHR – Free Report) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,836 shares of the conglomerate’s stock after selling 651 shares during the period. Pinnacle Associates Ltd.’s holdings in Danaher were worth $5,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new position in Danaher in the fourth quarter valued at about $25,000. Tsfg LLC boosted its holdings in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new stake in Danaher in the second quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Danaher in the first quarter valued at $30,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Danaher during the 4th quarter valued at $42,000. 79.05% of shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of equities research analysts recently issued reports on the company. Leerink Partners boosted their price objective on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group began coverage on shares of Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 target price on the stock. Bank of America raised their price objective on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company assumed coverage on shares of Danaher in a report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price target on the stock. Finally, Barclays boosted their target price on Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.94, according to MarketBeat.com.

See the latest stock analysis on Danaher

Internal activity at Danaher

In other Danaher news, CEO Rainer Blair sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now owns 97,983 shares of the company’s stock, valued at $27,435,240. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In other Danaher news, CEO Rainer Blair sold 9,007 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at $27,435,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,659 shares of company stock worth $11,042,433. Corporate insiders own 11.10% of the company’s shares.

Danaher trading rose 0.9%

Shares of Danaher opened at $269.31 on Friday. The company has a 50 day simple moving average of $260.05 and a two hundred day simple moving average of $255.10. The firm has a market cap of $199.47 billion, a PE ratio of 45.65, a PEG ratio of 4.62 and a beta of 0.83. Danaher Co. has a 1 year low of $182.09 and a 1 year high of $281.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43, and a quick ratio of 1.04.

Danaher (NYSE:DHR – Get Free Report ) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. In the same period last year, the company earned $2.05 per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts expect Danaher Co. will record 7.59 earnings per share for the current fiscal year.

About Danaher

(Free report)

Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services worldwide. The Biotechnology segments provide bioprocess technologies, consumables and services that advance, accelerate and integrate drug development and manufacturing; cell line and cell culture media development services; cell culture media, process fluids and manufacturing buffers, chromatography resins, filtration technologies, aseptic fill finishing; disposable hardware and supplies and services such as design and installation of complete manufacturing suites; laboratory filtration, separation and purification; laboratory-scale protein purification and analytical tools; reagents, membranes and services; and filtration solutions for health care.

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