Allspring Global Investments Holdings LLC Sells 52,246 Shares of Danaher Corporation $DHR

Key Points

• Allspring Global Investments cut its Danaher stake by 10.6%, selling 52,246 shares in the third quarter; it retained 442,423 shares valued at about $93.7 million. Institutional investors and hedge funds collectively own 79.05% of the stock.
• Analyst sentiment remains positive: 18 analysts rate Danaher Buy and five rate it Hold, giving it a consensus “Moderate Buy” rating and average price target of $242.91.
• Danaher’s latest quarterly earnings beat estimates, with EPS of $2.11 versus expectations of $1.92; revenue rose 8.3% year over year to $6.55 billion, slightly below analyst forecasts.

Allspring Global Investments Holdings LLC lowered its position in Danaher Corporation (NYSE:DHR - Free Report) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,423 shares of the conglomerate's stock after selling 52,246 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of Danaher worth $93,688,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DHR. Prime Capital Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 45 shares during the last quarter. Essential Investment Partners LLC lifted its stake in Danaher by 34.6% in the third quarter. Essential Investment Partners LLC now owns 175 shares of the conglomerate's stock valued at $39,000 after buying an additional 45 shares during the period. Covestor Ltd increased its stake in Danaher by 28.3% in the third quarter. Covestor Ltd now owns 213 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 47 shares in the last quarter. Veery Capital LLC lifted its holdings in Danaher by 3.1% during the third 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. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Danaher by 7.5% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 715 shares of the conglomerate's stock valued at $158,000 after buying an additional 50 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DHR has been the subject of a number of recent research reports. DZ Bank downgraded shares of Danaher from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 27th. Royal Bank Of Canada increased their price objective on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, October 5th. The Goldman Sachs Group restated a "buy" rating and issued a $275.00 target price on shares of Danaher in a research report on Thursday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Danaher from $250.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Finally, Robert W. Baird lifted their target price 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. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Danaher has a consensus rating of "Moderate Buy" and an average price target of $242.91.

Insiders Place Their Bets

In other news, CAO Christopher Bouda sold 7,598 shares of Danaher stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total value of $1,782,186.88. Following the completion of the transaction, the chief accounting officer owned 9,107 shares in the company, valued at $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.80% of the stock is owned by corporate insiders.

Danaher Stock Performance

NYSE:DHR opened at $235.21 on Tuesday. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The firm has a market capitalization of $165.48 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.95 and a beta of 0.76. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $220.65 and a 200-day moving average of $201.57.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.19. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Announces Dividend

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

Danaher Company Profile

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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