CCLA Investment Management Sells 24,214 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• CCLA Investment Management has reduced its stake in Danaher Corporation by 5.5%, now owning 415,518 shares, valued at approximately $85 million.
• Research analysts show a generally positive outlook for Danaher, with 18 analysts giving it a "buy" rating and an average target price of $247.61.
• Danaher's recent quarterly earnings beat expectations, reporting $1.80 EPS and revenue of $5.94 billion, marking a 3.4% year-over-year increase.

CCLA Investment Management reduced its position in Danaher Corporation (NYSE:DHR - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 415,518 shares of the conglomerate's stock after selling 24,214 shares during the period. CCLA Investment Management owned 0.06% of Danaher worth $85,127,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Bank Pictet & Cie Europe AG boosted its position in shares of Danaher by 22.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock valued at $44,241,000 after acquiring an additional 35,730 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in Danaher in the fourth quarter valued at approximately $251,000. World Investment Advisors boosted its holdings in shares of Danaher by 7.8% in the fourth quarter. World Investment Advisors now owns 13,956 shares of the conglomerate's stock valued at $3,204,000 after acquiring an additional 1,008 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of Danaher by 23.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,681 shares of the conglomerate's stock worth $1,074,000 after purchasing an additional 903 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in Danaher in the fourth quarter worth $5,193,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Danaher in a research note on Wednesday, July 23rd. TD Cowen boosted their price objective on Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Wolfe Research cut their target price on Danaher from $275.00 to $220.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. HSBC lowered their target price on Danaher from $270.00 to $240.00 in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective 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 research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Danaher presently has an average rating of "Moderate Buy" and an average target price of $247.61.

Danaher Stock Up 0.8%

DHR traded up $1.65 on Tuesday, hitting $199.11. 639,739 shares of the company were exchanged, compared to its average volume of 4,282,627. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. The stock's fifty day moving average is $197.75 and its 200-day moving average is $201.87. The company has a market cap of $142.57 billion, a PE ratio of 42.39, a PEG ratio of 2.74 and a beta of 0.73. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating 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 firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter last year, the business posted $1.72 EPS. The company's revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Steven M. Rales sold 1,250,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the sale, the chairman owned 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.20% of the stock is currently owned by corporate insiders.

Danaher Company Profile

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.