Concentric Capital Strategies LP Increases Stock Position in Danaher Corporation $DHR

Key Points

• Concentric Capital Strategies LP significantly increased its stake in Danaher Corporation, growing its position by 6,986.0% in the first quarter, now owning 98,637 shares valued at approximately $20.2 million.
• Danaher recently reported earnings of $1.80 per share, exceeding analyst expectations, with a revenue of $5.94 billion for the quarter, indicating a 3.4% increase year-over-year.
• Several institutional investors also expanded their positions in Danaher, including Nuveen LLC, which acquired a new position valued at approximately $833.9 million during the same quarter.

Concentric Capital Strategies LP increased its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 6,986.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,637 shares of the conglomerate's stock after acquiring an additional 97,245 shares during the period. Danaher comprises 1.9% of Concentric Capital Strategies LP's holdings, making the stock its 7th largest holding. Concentric Capital Strategies LP's holdings in Danaher were worth $20,221,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DHR. 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 worth $44,241,000 after acquiring an additional 35,730 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Danaher in the 4th quarter valued at approximately $1,754,000. Cetera Investment Advisers lifted its stake in Danaher by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 134,273 shares of the conglomerate's stock valued at $30,822,000 after purchasing an additional 1,189 shares during the last quarter. Consulta Ltd lifted its stake in Danaher by 20.0% in the 4th quarter. Consulta Ltd now owns 600,000 shares of the conglomerate's stock valued at $137,730,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Colonial Trust Co SC lifted its stake in Danaher by 288.6% in the 4th quarter. Colonial Trust Co SC now owns 4,628 shares of the conglomerate's stock valued at $1,062,000 after purchasing an additional 3,437 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the transaction, the director directly owned 20,751 shares in the company, valued at approximately $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Evercore ISI dropped their price objective on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Robert W. Baird increased their price objective on shares of Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research note on Friday, July 11th. Finally, Wells Fargo & Company dropped their price target on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and an average price target of $246.35.

Danaher Trading Down 2.1%

NYSE DHR traded down $4.19 during mid-day trading on Tuesday, reaching $194.44. 1,178,743 shares of the stock were exchanged, compared to its average volume of 4,124,810. Danaher Corporation has a one year low of $171.00 and a one year high of $279.90. The stock has a 50 day simple moving average of $201.95 and a 200-day simple moving average of $199.23. The stock has a market cap of $139.23 billion, a P/E ratio of 41.37, a P/E/G ratio of 2.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22.

Danaher (NYSE:DHR - Get Free Report) last announced 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 net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter last year, the firm earned $1.72 earnings per share. Danaher's quarterly revenue was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

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.