Condor Capital Management Decreases Stake in Danaher Corporation (NYSE:DHR)

Key Points

• Condor Capital Management has decreased its holdings in Danaher Corporation by 39.3%, selling 7,459 shares and now owning 11,498 shares, valued at approximately $2.36 million.
• The company's Chairman, Steven M. Rales, sold 1.25 million shares for about $245.9 million, representing a 28.70% decrease in his position.
• Analysts have mixed ratings on Danaher's stock, with Goldman Sachs lowering its price target from $260.00 to $240.00, while other firms set higher targets, resulting in an average target price of $247.61.

Condor Capital Management decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 39.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,498 shares of the conglomerate's stock after selling 7,459 shares during the quarter. Condor Capital Management's holdings in Danaher were worth $2,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DHR. Bank Pictet & Cie Europe AG lifted its holdings in Danaher by 22.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock valued at $44,241,000 after purchasing an additional 35,730 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Danaher by 14.4% during the fourth quarter. Martingale Asset Management L P now owns 1,507 shares of the conglomerate's stock valued at $346,000 after purchasing an additional 190 shares in the last quarter. Heritage Trust Co purchased a new position in Danaher during the fourth quarter valued at approximately $6,840,000. NFP Retirement Inc. lifted its holdings in shares of Danaher by 22.5% in the fourth quarter. NFP Retirement Inc. now owns 938 shares of the conglomerate's stock worth $215,000 after buying an additional 172 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Danaher by 3.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 443,422 shares of the conglomerate's stock worth $101,801,000 after buying an additional 12,834 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Trading Up 1.1%

Shares of NYSE DHR traded up $2.24 during mid-day trading on Wednesday, reaching $207.96. The company had a trading volume of 1,635,952 shares, compared to its average volume of 4,252,766. The business's 50-day moving average is $198.95 and its 200-day moving average is $200.34. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock has a market cap of $148.91 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Danaher Corporation has a 52 week low of $171.00 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Analyst Ratings Changes

DHR has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Danaher from $240.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their target price on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Guggenheim reissued a "buy" rating and issued a $250.00 target price on shares of Danaher in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Danaher from $240.00 to $235.00 in a report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Danaher has a consensus rating of "Moderate Buy" and an average target price of $247.61.

Danaher 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.