Allstate Corp Reduces Stake in Danaher Corporation $DHR

Key Points

• Allstate Corp reduced its stake in Danaher Corporation by 14.6%, ending the first quarter with 16,530 shares valued at approximately $3.39 million.
• Danaher's earnings report showed a better-than-expected performance, posting $1.80 EPS against a consensus estimate of $1.64 and a revenue of $5.94 billion.
• The company has a consensus price target of $247.61, with 17 analysts rating it as a Buy and three as Hold.

Allstate Corp lessened its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 14.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,530 shares of the conglomerate's stock after selling 2,837 shares during the quarter. Allstate Corp's holdings in Danaher were worth $3,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of DHR. GHP Investment Advisors Inc. grew its position in Danaher by 396.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after acquiring an additional 99 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Danaher in the 4th quarter worth $27,000. Sierra Ocean LLC lifted its holdings in shares of Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after buying an additional 76 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Danaher in the 1st quarter worth $31,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Danaher by 68.4% in the 1st quarter. Dunhill Financial LLC now owns 165 shares of the conglomerate's stock worth $34,000 after buying an additional 67 shares during the period. Institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Shares of NYSE:DHR traded down $1.44 during trading on Thursday, hitting $203.56. The stock had a trading volume of 921,280 shares, compared to its average volume of 4,175,272. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.90. The stock has a market capitalization of $145.76 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 2.88 and a beta of 0.73. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $201.23 and a two-hundred day simple moving average of $199.46.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same period last year, the business posted $1.72 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, equities research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on DHR. Scotiabank upgraded Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a report on Friday, July 11th. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Guggenheim restated a "buy" rating and set a $250.00 price objective on shares of Danaher in a research note on Wednesday, July 23rd. Robert W. Baird upped their price objective on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company decreased their price objective on Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of Danaher stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the transaction, the director directly owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Danaher Company Profile

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.