Progressive Investment Management Corp Sells 378 Shares of Danaher Co. (NYSE:DHR)

Progressive Investment Management Corp cut its holdings in shares of Danaher Co. (NYSE:DHR) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,089 shares of the conglomerate’s stock after selling 378 shares during the quarter. Danaher makes up approximately 3.4% of Progressive Investment Management Corp’s holdings, making the stock its 10th largest holding. Progressive Investment Management Corp’s holdings in Danaher were worth $13,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MQS Management LLC acquired a new stake in Danaher during the first quarter worth about $230,000. Crewe Advisors LLC acquired a new position in shares of Danaher during the first quarter valued at approximately $162,000. Payden & Rygel Investment Group acquired a new stake in Danaher in the first quarter worth approximately $250,000. Delap Wealth Advisory LLC acquired a new stake in shares of Danaher in the first quarter valued at $348,000. Finally, CreativeOne Wealth LLC acquired a new stake in Danaher in the 1st quarter valued at about $250,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction 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. This represents a 18.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

DHR has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. KeyCorp boosted their target price on shares of Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Raymond James lowered their price target on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on Danaher in a report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective for the company. Finally, UBS Group cut their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $287.16.

Danaher Stock Up 0.3 %

DHR opened at $230.84 on Wednesday. The firm’s fifty day moving average price is $260.45 and its two-hundred day moving average price is $260.32. The company has a market capitalization of $166.73 billion, a P/E ratio of 44.04, a P/E/G ratio of 4.24 and a beta of 0.85. Danaher Co. has a fifty-two week low of $207.63 and a fifty-two week high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts anticipate that Danaher Co. will post 7.51 EPS for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.47%. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

Danaher 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.