Artemis Investment Management LLP Trims Stock Position in Danaher Corporation $DHR

Key Points

• Artemis Investment Management LLP trimmed its stake in Danaher by 22.3%, selling 14,664 shares and retaining 50,970 shares valued at about $11.67 million.
• Several analysts have lowered price targets recently, but the stock's consensus remains a Moderate Buy with an average target of $240.70.
• Danaher beat EPS estimates ($2.06 vs. $1.94) while revenue of $5.95B was slightly below expectations, and the company raised its quarterly dividend from $0.32 to $0.40 (annualized $1.60, 0.9% yield).

Artemis Investment Management LLP lessened its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,970 shares of the conglomerate's stock after selling 14,664 shares during the period. Artemis Investment Management LLP's holdings in Danaher were worth $11,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tyche Wealth Partners LLC bought a new position in Danaher during the 3rd quarter valued at about $462,000. Bank Pictet & Cie Europe AG raised its position in Danaher by 25.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate's stock worth $83,895,000 after purchasing an additional 74,301 shares during the period. Lockheed Martin Investment Management Co. lifted its stake in Danaher by 49.4% in the third quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate's stock worth $5,024,000 after purchasing an additional 8,380 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in Danaher by 2.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate's stock valued at $131,784,000 after acquiring an additional 18,744 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in Danaher by 4.6% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 513,288 shares of the conglomerate's stock valued at $100,071,000 after acquiring an additional 22,595 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group decreased their target price on Danaher from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Rothschild & Co Redburn set a $205.00 price target on shares of Danaher in a report on Friday, April 17th. Morgan Stanley reduced their price target on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Barclays decreased their price target on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Finally, Evercore boosted their price target on Danaher from $225.00 to $232.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Danaher presently has an average rating of "Moderate Buy" and a consensus price target of $240.70.

Danaher Trading Down 2.0%

NYSE:DHR opened at $175.30 on Friday. The firm has a 50-day simple moving average of $193.34 and a 200-day simple moving average of $213.20. Danaher Corporation has a one year low of $174.60 and a one year high of $242.80. The firm has a market cap of $124.07 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the firm earned $1.88 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that Danaher Corporation will post 8.43 EPS for the current fiscal year.

Danaher Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, March 27th were paid a dividend of $0.40 per share. This is a boost from Danaher's previous quarterly dividend of $0.32. The ex-dividend date was Friday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Danaher's dividend payout ratio (DPR) is presently 30.95%.

Insider Buying and Selling

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the sale, the executive vice president directly owned 5,099 shares in the company, valued at $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.80% of the stock is owned by insiders.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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