Third Point buys $360.3 Million stake in Danaher Corporation (DHR)

Danaher Corporation (DHR) : Third Point scooped up 1,450,000 additional shares in Danaher Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 3,700,000 shares of Danaher Corporation which is valued at $360.3 Million.Danaher Corporation makes up approximately 3.35% of Third Point’s portfolio.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in DHR in the latest quarter, The investment management firm added 445,986 additional shares and now holds a total of 2,267,165 shares of Danaher Corporation which is valued at $220.8 Million. Danaher Corporation makes up approx 0.65% of Citadel Advisors’s portfolio.Mosaic Family Wealth reduced its stake in DHR by selling 812 shares or 32.12% in the most recent quarter. The Hedge Fund company now holds 1,716 shares of DHR which is valued at $167,087. Danaher Corporation makes up approx 0.08% of Mosaic Family Wealth’s portfolio. Alps Advisors Inc added DHR to its portfolio by purchasing 403,462 company shares during the most recent quarter which is valued at $39.3 Million. Danaher Corporation makes up approx 0.38% of Alps Advisors Inc’s portfolio. Roble Belko Company Inc added DHR to its portfolio by purchasing 59 company shares during the most recent quarter which is valued at $5,745.Stephens Inc Ar reduced its stake in DHR by selling 1,540 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 79,363 shares of DHR which is valued at $7.7 Million. Danaher Corporation makes up approx 0.38% of Stephens Inc Ar’s portfolio.

Danaher Corporation closed down -0.31 points or -0.31% at $99.66 with 20,71,882 shares getting traded on Wednesday. Post opening the session at $99.89, the shares hit an intraday low of $99.57 and an intraday high of $100.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Danaher Corporation reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.03. The company had revenue of $5387.20 million for the quarter, compared to analysts expectations of $5329.83 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Investors should note that on May 10, 2016, Danaher Corporation announced a cash dividend of $0.1600. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on Danaher Corporation. Company shares were Reiterated by RBC Capital Mkts on May 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 99 from a previous price target of $96 .Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 96 from a previous price target of $87 .Company shares were Reiterated by Stifel on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $109 .

Danaher Corporation (Danaher) designs manufactures and markets professional medical industrial and commercial products and services. It operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental and Industrial Technologies. The Test & Measurement segment offers test measurement and monitoring products. The Environmental segment products and services help protect the global water supply facilitate environmental stewardship and enhance the safety of personal data. The Company’s diagnostics business offers analytical instruments reagents consumables software and services. The Dental segment provides products that are used to diagnose treat and prevent disease and ailments of the teeth gums and supporting bone. The Company’s Industrial Technologies solutions help protect the world’s food supply improve packaging design and quality verify pharmaceutical dosages and authenticity and power innovative machines.

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