Cetera Investment Advisers Sells 32,802 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Cetera Investment Advisers has reduced its stake in Danaher Corporation by 24.4%, selling 32,802 shares, and now holds 101,471 shares valued at approximately $20.8 million.
• Danaher reported earnings of $1.80 per share for the latest quarter, surpassing expectations, with revenues of $5.94 billion, marking a 3.4% year-over-year increase.
• The company recently declared a quarterly dividend of $0.32 per share, leading to a dividend yield of 0.62% and a payout ratio of 27.23%.

Cetera Investment Advisers trimmed its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,471 shares of the conglomerate's stock after selling 32,802 shares during the quarter. Cetera Investment Advisers' holdings in Danaher were worth $20,802,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FAS Wealth Partners Inc. increased its stake in shares of Danaher by 20.6% in the 4th quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate's stock valued at $2,203,000 after acquiring an additional 1,639 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Danaher in the 1st quarter valued at approximately $539,000. Horizon Financial Services LLC grew its position in shares of Danaher by 20,400.0% in the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate's stock valued at $1,681,000 after purchasing an additional 8,160 shares during the period. Vision Capital Management Inc. acquired a new position in shares of Danaher in the 1st quarter valued at approximately $461,000. Finally, Eos Management L.P. grew its position in shares of Danaher by 55.8% in the 1st quarter. Eos Management L.P. now owns 40,567 shares of the conglomerate's stock valued at $8,316,000 after purchasing an additional 14,537 shares during the period. 79.05% of the stock is owned by institutional investors.

Danaher Stock Down 1.3%

Shares of DHR traded down $2.73 on Thursday, reaching $201.26. The stock had a trading volume of 1,861,671 shares, compared to its average volume of 4,275,117. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $281.70. 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 firm has a market capitalization of $144.11 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 2.87 and a beta of 0.77. The company has a 50-day simple moving average of $197.05 and a 200-day simple moving average of $203.25.

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, beating the consensus estimate of $1.64 by $0.16. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. Danaher's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 earnings per share. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.64%. Danaher's dividend payout ratio (DPR) is 27.23%.

Insider Activity

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the business'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 transaction of $245,925,000.00. Following 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 legal filing with the SEC, which is available through this link. Company insiders own 11.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DHR. Wells Fargo & Company reduced their price target on Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Jefferies Financial Group dropped their price objective on Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Argus dropped their price objective on Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price objective on Danaher from $260.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $247.61.

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.