Cary Street Partners Financial LLC Has $1.24 Million Holdings in Danaher Corporation (NYSE:DHR)

Key Points

• Cary Street Partners Financial LLC has reduced its stake in Danaher Corporation by 20.9%, owning 6,045 shares valued at approximately $1.24 million as of the latest reporting period.
• Institutional investors collectively hold 79.05% of Danaher stock, with notable increases in holdings from firms like GAMMA Investing LLC and Two Sigma Advisers LP during the recent quarters.
• Danaher recorded earnings of $1.80 per share for the most recent quarter, exceeding analyst expectations, and forecasts suggest an estimated 7.63 EPS for the current fiscal year.

Cary Street Partners Financial LLC decreased its stake in Danaher Corporation (NYSE:DHR - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,045 shares of the conglomerate's stock after selling 1,597 shares during the period. Cary Street Partners Financial LLC's holdings in Danaher were worth $1,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its position in Danaher by 24,958.2% during the first quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock worth $383,524,000 after buying an additional 1,863,381 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Danaher by 4,248.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock worth $376,347,000 after acquiring an additional 1,601,800 shares during the period. Capital World Investors grew its holdings in shares of Danaher by 32.7% during the 4th quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock worth $1,460,215,000 after purchasing an additional 1,566,658 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Danaher by 460.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,348,544 shares of the conglomerate's stock valued at $309,558,000 after purchasing an additional 1,107,998 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Danaher during the fourth quarter worth $242,837,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DHR. UBS Group reduced their price objective on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Evercore ISI decreased their price objective on Danaher from $230.00 to $226.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. cut their target price on Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three equities research 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 target price of $247.61.

Insider Buying and Selling at Danaher

In related news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by company insiders.

Danaher Stock Performance

Shares of Danaher stock opened at $198.48 on Friday. The firm has a 50 day simple moving average of $198.24 and a 200 day simple moving average of $201.53. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $279.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22. The firm has a market cap of $142.12 billion, a P/E ratio of 42.23, a P/E/G ratio of 2.72 and a beta of 0.73.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

About Danaher

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.

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