Beacon Investment Advisory Services Inc. Sells 6,163 Shares of Danaher Corporation $DHR

Key Points

• Beacon Investment Advisory Services reduced its Danaher stake by 8% in the second quarter, selling 6,163 shares and retaining 70,980 shares valued at approximately $13.52 million.
• Danaher reported quarterly EPS of $1.94, beating estimates of $1.85, while revenue reached $6.26 billion—up 5.5% year over year and above expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $228.91, despite several recent target-price cuts; Danaher shares recently traded at $204.34.

Beacon Investment Advisory Services Inc. decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,980 shares of the conglomerate's stock after selling 6,163 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Danaher were worth $13,520,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after purchasing an additional 472,608 shares in the last quarter. Capital International Investors boosted its holdings in Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after purchasing an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock valued at $3,656,595,000 after purchasing an additional 1,334,221 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Danaher by 11.2% in the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock valued at $3,451,380,000 after purchasing an additional 1,517,904 shares during the period. Finally, Norges Bank bought a new stake in Danaher in the fourth quarter valued at $2,177,106,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

Shares of NYSE:DHR opened at $204.34 on Friday. The stock has a market capitalization of $143.65 billion, a P/E ratio of 36.30, a P/E/G ratio of 2.49 and a beta of 0.78. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $190.67 and a two-hundred day moving average price of $194.32.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the firm earned $0.77 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HSBC lowered their target price on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Barclays decreased their price objective on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen lowered shares of Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. JPMorgan Chase & Co. reduced their target price on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Finally, TD Cowen decreased their price target on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher 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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