Connor Clark & Lunn Investment Management Ltd. Has $26 Million Stake in Danaher Corporation (NYSE:DHR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Danaher Corporation by 271.1% during the first quarter, acquiring an additional 92,643 shares, bringing its total holdings to 126,822 shares valued at approximately $25.99 million.
• In a recent insider transaction, Chairman Steven M. Rales sold 1.25 million shares of Danaher for around $245.93 million, reducing his ownership by 28.7%.
• Danaher reported earnings per share of $1.80 for the last quarter, surpassing expectations, with revenue of $5.94 billion, reflecting a 3.4% increase compared to the previous year.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Danaher Corporation (NYSE:DHR - Free Report) by 271.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,822 shares of the conglomerate's stock after buying an additional 92,643 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Danaher were worth $25,999,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT purchased a new position in Danaher during the 1st quarter worth approximately $667,000. National Bank of Canada FI grew its position in Danaher by 54.3% during the 1st quarter. National Bank of Canada FI now owns 628,625 shares of the conglomerate's stock worth $128,864,000 after purchasing an additional 221,287 shares in the last quarter. Hirtle Callaghan & Co LLC purchased a new position in Danaher during the 1st quarter worth approximately $1,078,000. AMF Tjanstepension AB grew its position in Danaher by 707.0% during the 1st quarter. AMF Tjanstepension AB now owns 171,931 shares of the conglomerate's stock worth $35,253,000 after purchasing an additional 150,627 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in Danaher by 168.9% during the 1st quarter. AlphaCore Capital LLC now owns 9,766 shares of the conglomerate's stock worth $2,002,000 after purchasing an additional 6,134 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

DHR has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of Danaher from $265.00 to $230.00 in a research report on Monday, April 14th. Jefferies Financial Group lowered their price objective on shares of Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, Argus lowered their price target on shares of Danaher from $260.00 to $240.00 in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $247.61.

Danaher Stock Up 3.0%

NYSE:DHR traded up $6.03 during trading hours on Tuesday, reaching $205.79. The company's stock had a trading volume of 2,829,956 shares, compared to its average volume of 4,735,438. The company has a market cap of $147.36 billion, a price-to-earnings ratio of 43.79, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Danaher Corporation has a one year low of $171.00 and a one year high of $279.90. The business's 50-day moving average is $198.95 and its 200-day moving average is $200.34. 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 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. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. Equities research analysts predict 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.