Danaher Corporation (NYSE:DHR) President and CEO Rainer Blair executed a sale of 19,085 shares of common stock on May 14, 2024, according to a recent SEC filing. The shares were sold at a price of $255.00 each, totaling approximately $4.87 million.
In addition to the sale, the filing revealed that Blair also acquired shares through the exercise of options. Specifically, Blair exercised options to purchase 5,926 shares at $62.85 per share and another 13,159 shares at $58.59 per share, amounting to a total transaction value of $1,143,434. This price range represents the cost basis for the options exercised, which were subsequently converted into common stock.
The sale was conducted under a Rule 10b5-1 trading plan, which Blair had adopted on November 28, 2023. Such plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against potential allegations of insider trading.
The footnotes in the SEC filing indicate that the options exercised by Blair were part of a grant where one third of the options became exercisable on each of the third, fourth, and fifth anniversaries of the grant dates, which were November 15, 2015, and February 24, 2016, respectively.
Following these transactions, Blair's ownership in Danaher stands at 115,995 shares of common stock. The transactions have been publicly disclosed as per the regulatory requirements for company insiders.
InvestingPro Insights
As Danaher Corporation's (NYSE:DHR) CEO Rainer Blair adjusts his stake in the company, investors and market watchers may also be looking at the broader financial health and market performance of Danaher. According to the most recent data available from InvestingPro, Danaher has a market capitalization of $195.01 billion and is trading at a price-to-earnings (P/E) ratio of 44.24, which indicates a high valuation when compared to the industry average. Despite a slight decline in revenue over the last twelve months, with a -4.69% change, the company maintains a strong gross profit margin of 58.89%.
InvestingPro Tips highlight several key points about Danaher that may interest investors. Notably, the company has raised its dividend for six consecutive years and has maintained dividend payments for 32 consecutive years, signaling a commitment to shareholder returns. Additionally, Danaher operates with a moderate level of debt and its cash flows can sufficiently cover interest payments, providing a degree of financial stability.
For those looking to delve deeper into Danaher's financial metrics and stock performance, InvestingPro offers additional insights. The platform lists a total of 15 InvestingPro Tips for Danaher, which can be accessed by visiting https://www.investing.com/pro/DHR. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to InvestingPro, where they can find more in-depth analysis and data to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.