Danaher’s (NYSE:DHR) Co-founder and Chairman of the Executive Committee, Mitchell P. Rales, bought the company’s shares worth around $10 million. The company designs, manufactures, and markets medical, industrial, and commercial products and services.
Going by the SEC filing, Warren bought over 50,175 shares of the company at a weighted average price of $199.30 per share on April 17, 2023. The total value of his holdings now stands at about $7.21 billion.
Meanwhile, two days ago, the company’s Co-founder and Chairman, Steven Rales, bought 125,437 shares of DHR for $25 million.
It’s important to note that both insiders purchased DHR stock ahead of the company’s first-quarter earnings announcement, which is scheduled for April 25. Top insiders’ purchases of stock reflect their optimism for the company’s upcoming Q1 performance.
As per the data collected by TipRanks, Rales has a 68% success rate in his 22 transactions in the past year, with an average return of 18.1% per transaction.
Overall, corporate insiders have bought DHR shares worth $32.8 million over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in Danaher is currently Neutral.
TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is DHR Stock a Buy, Sell, or Hold?
Currently, Wall Street is optimistic about DHR stock. It has a Strong Buy consensus rating based on 12 Buy and one Hold recommendations. The average stock price target of $301.23 implies an upside potential of 17.6%.
Also, Danaher sports a “Perfect 10” Smart Score, implying it has the potential to beat the broader market averages.
