Aberdeen Group plc Sells 164,080 Shares of Danaher Corporation $DHR

Key Points

• Aberdeen Group cut its Danaher stake by 12.3% in the third quarter, selling 164,080 shares. It held 1,175,105 shares worth about $260.3 million at quarter-end.
• Danaher reported quarterly earnings of $2.11 per share, beating the $1.92 consensus estimate; revenue rose 8.3% year over year to $6.55 billion, slightly below expectations.
• Analysts held a generally positive view, with 18 Buy ratings and five Holds; the average price target was $242.91.

Aberdeen Group plc trimmed its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,175,105 shares of the conglomerate's stock after selling 164,080 shares during the quarter. Aberdeen Group plc owned approximately 0.17% of Danaher worth $260,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DHR. Prime Capital Investment Advisors LLC increased its holdings in Danaher by 0.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 9,203 shares of the conglomerate's stock valued at $2,039,000 after buying an additional 45 shares during the last quarter. Essential Investment Partners LLC lifted its holdings in Danaher by 34.6% during the 3rd quarter. Essential Investment Partners LLC now owns 175 shares of the conglomerate's stock worth $39,000 after buying an additional 45 shares during the last quarter. Montis Financial LLC lifted its holdings in Danaher by 2.3% during the 3rd quarter. Montis Financial LLC now owns 2,020 shares of the conglomerate's stock worth $448,000 after buying an additional 46 shares during the last quarter. Covestor Ltd lifted its holdings in Danaher by 28.3% during the 3rd quarter. Covestor Ltd now owns 213 shares of the conglomerate's stock worth $47,000 after buying an additional 47 shares during the last quarter. Finally, Veery Capital LLC grew its position in shares of Danaher by 3.1% in the 3rd quarter. Veery Capital LLC now owns 1,581 shares of the conglomerate's stock worth $350,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Danaher Stock Up 0.4%

Shares of DHR stock opened at $233.16 on Friday. The firm's fifty day moving average price is $222.56 and its two-hundred day moving average price is $201.52. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The firm has a market capitalization of $164.04 billion, a P/E ratio of 27.84, a PEG ratio of 2.92 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.19. The company had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. Danaher's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. On average, equities analysts predict that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Danaher's dividend payout ratio is presently 26.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Danaher from $220.00 to $240.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Robert W. Baird upped their price target on shares of Danaher from $246.00 to $254.00 and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Deutsche Bank reiterated a "buy" rating and set a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. Guggenheim raised their target price on shares of Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Finally, Citigroup upped their target price on shares of Danaher from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Danaher presently has an average rating of "Moderate Buy" and an average price target of $242.91.

Insider Activity at Danaher

In other Danaher news, EVP Gregory M. Milosevich sold 2,100 shares of the company's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $230.62, for a total transaction of $484,302.00. Following the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $5,158,277.54. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher Bouda sold 7,598 shares of the firm's stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the sale, the chief accounting officer owned 9,107 shares of the company's stock, valued at $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.80% of the company's stock.

About Danaher

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company's businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.

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