Calamos Wealth Management LLC Reduces Stock Holdings in Danaher Corporation $DHR

Key Points

• Calamos Wealth Management cut its Danaher stake by 24.8% in the first quarter, selling 21,549 shares and ending with 65,493 shares worth about $12.4 million.
• Institutional ownership remains high, with hedge funds and other investors holding 79.05% of Danaher’s stock, while several firms either increased or trimmed their positions during the quarter.
• Analyst sentiment is still mostly positive: Danaher has a Moderate Buy consensus and an average price target of $231.64, even after some target cuts and one downgrade to sell.

Calamos Wealth Management LLC lowered its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 65,493 shares of the conglomerate's stock after selling 21,549 shares during the quarter. Calamos Wealth Management LLC's holdings in Danaher were worth $12,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DHR. Calamos Advisors LLC raised its stake in shares of Danaher by 18.3% in the first quarter. Calamos Advisors LLC now owns 288,363 shares of the conglomerate's stock valued at $54,674,000 after acquiring an additional 44,665 shares during the period. AMG National Trust Bank boosted its stake in shares of Danaher by 37.7% during the 1st quarter. AMG National Trust Bank now owns 25,694 shares of the conglomerate's stock worth $4,871,000 after purchasing an additional 7,041 shares during the period. Evernest Financial Advisors LLC boosted its stake in shares of Danaher by 6.3% during the 1st quarter. Evernest Financial Advisors LLC now owns 4,754 shares of the conglomerate's stock worth $859,000 after purchasing an additional 281 shares during the period. Bleakley Financial Group LLC grew its holdings in Danaher by 1.1% during the 1st quarter. Bleakley Financial Group LLC now owns 36,090 shares of the conglomerate's stock valued at $6,843,000 after purchasing an additional 381 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Danaher by 42.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 14,964 shares of the conglomerate's stock valued at $2,754,000 after purchasing an additional 4,488 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank Of Canada started coverage on shares of Danaher in a research note on Thursday, May 14th. They issued an "outperform" rating and a $200.00 price objective for the company. Argus cut their target price on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. reduced their price target on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered Danaher from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, June 29th. Finally, The Goldman Sachs Group dropped their price objective on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Danaher has a consensus rating of "Moderate Buy" and an average target price of $231.64.

Danaher Price Performance

Danaher stock opened at $200.45 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The stock has a market cap of $141.87 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79. The firm has a 50-day moving average of $181.02 and a two-hundred day moving average of $199.06. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. On average, research analysts forecast that Danaher Corporation will post 8.44 earnings per share for the current year.

Danaher Dividend Announcement

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

Danaher Company 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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