Ridgewood Investments LLC Makes New $64,000 Investment in Danaher Co. (NYSE:DHR)

Ridgewood Investments LLC acquired a new stake in shares of Danaher Co. (NYSE:DHR) during the 2nd quarter, Holdings Channel reports. The firm acquired 255 shares of the conglomerate’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Danaher by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock valued at $15,009,928,000 after buying an additional 4,163,657 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Danaher by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock valued at $6,460,966,000 after acquiring an additional 2,998,161 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Danaher by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock worth $3,876,694,000 after purchasing an additional 1,619,586 shares during the period. Capital International Investors lifted its holdings in shares of Danaher by 9.1% in the 4th quarter. Capital International Investors now owns 15,956,519 shares of the conglomerate’s stock worth $3,691,735,000 after purchasing an additional 1,334,781 shares in the last quarter. Finally, Norges Bank acquired a new stake in Danaher in the 4th quarter valued at $1,752,382,000. Institutional investors own 79.05% of the company’s stock.

Insider Activity

In related news, SVP Brian W. Ellis sold 9,600 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the sale, the senior vice president now directly owns 20,230 shares in the company, valued at approximately $5,566,486.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Brian W. Ellis sold 9,600 shares of Danaher stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total value of $2,641,536.00. Following the completion of the transaction, the senior vice president now directly owns 20,230 shares in the company, valued at approximately $5,566,486.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Georgeann Couchara sold 952 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the sale, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. The disclosure for this sale can be found here. Insiders have sold 39,659 shares of company stock valued at $11,042,433 in the last 90 days. Insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group boosted their price objective on Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company initiated coverage on Danaher in a report on Tuesday. They issued an “equal weight” rating and a $280.00 target price on the stock. Finally, TD Cowen upped their price target on Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.94.

Danaher Stock Performance

DHR stock traded up $1.09 during mid-day trading on Thursday, hitting $267.15. The company had a trading volume of 1,904,049 shares, compared to its average volume of 2,792,242. 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 market cap of $197.87 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 4.62 and a beta of 0.83. Danaher Co. has a 12 month low of $182.09 and a 12 month high of $281.70. The stock’s fifty day moving average price is $259.39 and its two-hundred day moving average price is $254.86.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, beating the consensus estimate of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate 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. On average, analysts forecast that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Company Profile

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.