Danaher Corporation (NYSE:DHR) Shares Sold by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia reduced its stake in Danaher Corporation by 0.5%, selling 2,694 shares, and currently holds 494,415 shares valued at approximately $101.35 million.
• Research analysts have mixed views on Danaher's stock, with J.P. Morgan lowering its price target to $260, while the average consensus rating remains a "Moderate Buy" with a target price of $247.61.
• Danaher recently announced a quarterly dividend of $0.32 per share, representing an annualized payment of $1.28 and a dividend yield of 0.6%, with a payout ratio of 27.23%.

Bank of Nova Scotia lowered its position in Danaher Corporation (NYSE:DHR - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 494,415 shares of the conglomerate's stock after selling 2,694 shares during the period. Bank of Nova Scotia owned approximately 0.07% of Danaher worth $101,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in Danaher in the 4th quarter valued at $27,000. GHP Investment Advisors Inc. increased its position in shares of 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 purchasing an additional 99 shares during the last quarter. Sierra Ocean LLC increased its position in shares of Danaher by 116.9% during the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after purchasing an additional 76 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Danaher during the 4th quarter worth about $34,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Danaher during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Activity

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the business'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 value of $245,925,000.00. Following the transaction, the chairman owned 3,105,808 shares of the company's stock, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.20% of the company's stock.

Analyst Ratings Changes

DHR has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Wolfe Research lowered their target price on Danaher from $275.00 to $220.00 and set an "outperform" rating for the company in a report on Monday, April 7th. Guggenheim restated a "buy" rating and set a $250.00 target price on shares of Danaher in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group lowered their target price on Danaher from $260.00 to $230.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $247.61.

Danaher Stock Performance

DHR traded up $0.41 during trading on Monday, hitting $197.50. 3,176,914 shares of the stock were exchanged, compared to its average volume of 4,662,791. The firm has a market capitalization of $141.42 billion, a P/E ratio of 42.02, a PEG ratio of 2.74 and a beta of 0.73. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $279.90. The stock has a fifty day moving average price of $197.49 and a two-hundred day moving average price of $202.16. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, topping the consensus estimate of $1.64 by $0.16. The company 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 firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. As a group, sell-side analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Danaher's payout ratio is currently 27.23%.

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.