Danaher Corporation (NYSE:DHR) Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC reduced its holdings in Danaher Corporation by 50.4% in Q1 2023, selling 20,079 shares and now owns 19,735 shares worth approximately $4.05 million.
• Chairman Steven M. Rales sold 1,250,000 shares for roughly $246 million, which marked a 28.7% decrease in his ownership, while EVP Christopher Paul Riley also sold shares, decreasing his position by 51.01%.
• Multiple analysts adjusted their price targets for Danaher, with Wells Fargo lowering it from $210 to $205 while maintaining an "equal weight" rating, highlighting mixed sentiments among market analysts.

Allen Investment Management LLC lowered its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,735 shares of the conglomerate's stock after selling 20,079 shares during the quarter. Allen Investment Management LLC's holdings in Danaher were worth $4,046,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DHR. GAMMA Investing LLC boosted its position in Danaher by 24,958.2% in the 1st quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock worth $383,524,000 after purchasing an additional 1,863,381 shares in the last quarter. Two Sigma Advisers LP boosted its position in Danaher by 4,248.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock worth $376,347,000 after purchasing an additional 1,601,800 shares in the last quarter. Capital World Investors boosted its position in Danaher by 32.7% in the 4th quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock worth $1,460,215,000 after purchasing an additional 1,566,658 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Danaher by 460.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,348,544 shares of the conglomerate's stock worth $309,558,000 after purchasing an additional 1,107,998 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Danaher during the 4th quarter valued at approximately $242,837,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Trading Down 0.4%

Shares of Danaher stock traded down $0.74 during trading hours on Wednesday, reaching $206.11. The stock had a trading volume of 2,222,413 shares, compared to its average volume of 4,268,120. The firm has a market capitalization of $147.59 billion, a price-to-earnings ratio of 43.91, a P/E/G ratio of 2.82 and a beta of 0.77. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $281.70. The firm has a 50 day simple moving average of $196.69 and a two-hundred day simple moving average of $203.24.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company's revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. As a group, equities research analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.62%. Danaher's dividend payout ratio is presently 27.23%.

Insider Activity at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the transaction, the chairman owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DHR. Robert W. Baird increased their target price on Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company reduced their price target on Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Leerink Partners boosted their price objective on shares of Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Argus dropped their target price on Danaher from $260.00 to $240.00 in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

About Danaher

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.