Baker Avenue Asset Management LP Purchases 15,685 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Baker Avenue Asset Management LP significantly increased its stake in Danaher Corporation by 316.9% during the first quarter, acquiring an additional 15,685 shares.
• Danaher recently reported quarterly earnings of $1.80 EPS, exceeding analyst expectations, with revenue reaching $5.94 billion, marking a 3.4% year-over-year increase.
• The company has announced a quarterly dividend of $0.32 per share, representing an annualized yield of 0.6%, with a payout ratio of 27.23%.

Baker Avenue Asset Management LP grew its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 316.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,635 shares of the conglomerate's stock after acquiring an additional 15,685 shares during the quarter. Baker Avenue Asset Management LP's holdings in Danaher were worth $4,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DHR. Alberta Investment Management Corp purchased a new position in shares of Danaher during the first quarter valued at approximately $5,842,000. US Bancorp DE boosted its position in shares of Danaher by 8.7% during the first quarter. US Bancorp DE now owns 599,838 shares of the conglomerate's stock valued at $122,967,000 after buying an additional 47,844 shares during the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Danaher by 4.7% during the first quarter. Nicolet Advisory Services LLC now owns 1,875 shares of the conglomerate's stock valued at $384,000 after buying an additional 85 shares during the last quarter. EFG Asset Management Americas Corp. boosted its position in shares of Danaher by 13.1% during the first quarter. EFG Asset Management Americas Corp. now owns 36,080 shares of the conglomerate's stock valued at $7,396,000 after buying an additional 4,191 shares during the last quarter. Finally, MGO One Seven LLC boosted its position in shares of Danaher by 485.7% during the first quarter. MGO One Seven LLC now owns 25,098 shares of the conglomerate's stock valued at $5,145,000 after buying an additional 20,813 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Insider Transactions at Danaher

In related news, Chairman Steven M. Rales sold 1,250,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the transaction, the chairman directly owned 3,105,808 shares in the company, valued at $611,036,665.92. This trade represents a 28.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Danaher Price Performance

Shares of NYSE DHR opened at $197.08 on Friday. The firm has a market capitalization of $141.12 billion, a P/E ratio of 41.93, a P/E/G ratio of 2.74 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's 50-day simple moving average is $197.49 and its two-hundred day simple moving average is $202.68. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.72 EPS. As a group, equities analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, June 27th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.6%. Danaher's payout ratio is 27.23%.

Analyst Ratings Changes

Several brokerages recently issued reports on DHR. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 target price on shares of Danaher in a research report on Wednesday, April 23rd. Argus reduced their price objective on Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Bank of America reduced their price objective on Danaher from $265.00 to $230.00 in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price objective on Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and an average price target 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.

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