Assetmark Inc. Trims Position in Danaher Corporation (NYSE:DHR)

Key Points

• Assetmark Inc. reduced its stake in Danaher Corporation by 40.8%, holding 41,621 shares worth approximately $8.53 million after selling 28,683 shares in Q1.
• Analysts have varying price targets for Danaher, with UBS Group lowering its target from $240 to $225, while Guggenheim maintains a price target of $250 and Scotiabank sets it at $275, showcasing a consensus "Moderate Buy" rating.
• Danaher reported strong quarterly earnings with an EPS of $1.80, exceeding expectations, alongside a recent quarterly dividend of **$0.32** paid to shareholders, reflecting a 0.62% yield.

Assetmark Inc. lowered its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 40.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,621 shares of the conglomerate's stock after selling 28,683 shares during the quarter. Assetmark Inc.'s holdings in Danaher were worth $8,532,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DHR. GHP Investment Advisors Inc. raised its holdings in Danaher by 396.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after buying an additional 99 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $27,000. Sierra Ocean LLC raised its holdings in shares of Danaher by 116.9% in the first quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 76 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Danaher in the first quarter valued at $31,000. Finally, Hurley Capital LLC bought a new position in shares of Danaher in the fourth quarter valued at $34,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Trading Up 1.9%

Shares of Danaher stock traded up $3.89 on Tuesday, reaching $206.83. 4,973,284 shares of the company's stock were exchanged, compared to its average volume of 4,283,577. The company has a market capitalization of $148.10 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 2.86 and a beta of 0.77. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $281.70. The firm's 50-day moving average is $196.51 and its two-hundred day moving average is $203.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Danaher's revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on DHR. Bank of America decreased their target price on shares of Danaher from $265.00 to $230.00 in a research note on Monday, April 14th. TD Cowen raised their target price on shares of Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Barclays reissued an "overweight" rating and issued a $225.00 target price (up from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Argus decreased their target price on shares of Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Finally, UBS Group reduced their price objective on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $247.61.

Insider Buying and Selling at Danaher

In other Danaher news, EVP Christopher Paul Riley sold 15,805 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the transaction, the executive vice president owned 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their position. The disclosure for this sale can be found here. 11.20% of the stock is currently owned by corporate insiders.

Danaher 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.