Bessemer Group Inc. Sells 2,060,465 Shares of Danaher Corporation $DHR

Key Points

• Bessemer Group Inc. sharply reduced its Danaher stake by 98.3% in the first quarter, selling 2,060,465 shares and leaving it with 36,441 shares worth about $6.9 million.
• Danaher reported better-than-expected earnings of $2.06 per share for the latest quarter, though revenue of $5.95 billion was slightly below analyst estimates.
• The company announced a quarterly dividend of $0.40 per share payable July 31, and analysts currently maintain a Moderate Buy consensus with a target price of $231.64.

Bessemer Group Inc. cut its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 98.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,441 shares of the conglomerate's stock after selling 2,060,465 shares during the quarter. Bessemer Group Inc.'s holdings in Danaher were worth $6,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. JPL Wealth Management LLC bought a new stake in shares of Danaher in the 3rd quarter worth approximately $25,000. Elevated Capital Advisors LLC purchased a new stake in Danaher in the fourth quarter worth $26,000. WFA of San Diego LLC purchased a new stake in Danaher in the second quarter worth $26,000. Hilton Head Capital Partners LLC bought a new stake in Danaher in the fourth quarter valued at $27,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Price Performance

Shares of DHR opened at $203.65 on Monday. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The firm's 50-day simple moving average is $183.27 and its two-hundred day simple moving average is $198.25. The stock has a market cap of $144.14 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79. 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 earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6 billion. During the same period last year, the business earned $1.88 earnings per share. The business's revenue was up 3.7% on a year-over-year basis. Analysts anticipate that Danaher Corporation will post 8.45 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, June 26th. Danaher's payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DHR shares. Morgan Stanley decreased their price objective on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group decreased their price target on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Robert W. Baird cut their price objective on Danaher from $251.00 to $249.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Finally, Wall Street Zen downgraded Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.64.

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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