Candriam S.C.A. Sells 81,234 Shares of Danaher Corporation $DHR

Key Points

• Candriam S.C.A. cut its Danaher stake by 44.9% in the third quarter, selling 81,234 shares and retaining 99,618 shares valued at about $22.2 million.
• Danaher’s latest quarterly EPS of $2.11 beat estimates of $1.92, while revenue rose 8.3% year over year to $6.55 billion—slightly below consensus.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $242.91; 18 analysts rate the stock Buy and five rate it Hold.

Candriam S.C.A. reduced its stake in Danaher Corporation (NYSE:DHR - Free Report) by 44.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,618 shares of the conglomerate's stock after selling 81,234 shares during the quarter. Candriam S.C.A.'s holdings in Danaher were worth $22,151,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DHR. BlackRock Inc. bought a new stake in Danaher in the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP increased its position in Danaher by 10.4% during the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock worth $3,108,031,000 after buying an additional 1,542,310 shares during the period. Jupiter Topco LLC bought a new position in Danaher during the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP acquired a new stake in shares of Danaher during the second quarter worth $1,287,949,000. Finally, Bank of America Corp DE acquired a new stake in shares of Danaher during the second quarter worth $993,846,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Up 0.0%

DHR stock opened at $230.34 on Monday. The company has a market cap of $162.05 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The business has a 50-day simple moving average of $220.27 and a 200 day simple moving average of $201.60. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.19. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The business's revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Danaher's dividend payout ratio is 26.19%.

Insider Buying and Selling at Danaher

In related news, CAO Christopher Bouda sold 7,598 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the sale, the chief accounting officer owned 9,107 shares in the company, valued at approximately $2,136,137.92. This trade represents a 45.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DHR. Wells Fargo & Company decreased their price target on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Robert W. Baird boosted their price objective on shares of Danaher from $246.00 to $254.00 and gave the company an "outperform" rating in a report on Thursday, October 22nd. Morgan Stanley increased their target price on shares of Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Finally, Stifel Nicolaus raised their target price on shares of Danaher from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.91.

About Danaher

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing.

The company's businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.

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