Corebridge Financial Inc. Reduces Position in Danaher Corporation $DHR

Key Points

• Corebridge Financial Inc. reduced its stake in Danaher Corporation by 9.0%, owning 150,211 shares valued at $30.79 million at the end of the last reporting period.
• Institutional investors control 79.05% of Danaher stock, with significant stakes being increased by several firms, including GHP Investment Advisors Inc., which boosted its stake by 396.0%.
• Analysts have set an average price target of $247.61 for Danaher, with 17 analysts recommending a buy and others adjusting their targets based on recent performance and market conditions.

Corebridge Financial Inc. lowered its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 9.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,211 shares of the conglomerate's stock after selling 14,855 shares during the quarter. Corebridge Financial Inc.'s holdings in Danaher were worth $30,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG raised its holdings in shares of Danaher by 22.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock valued at $44,241,000 after buying an additional 35,730 shares during the period. First Trust Advisors LP raised its holdings in shares of Danaher by 13.6% in the 4th quarter. First Trust Advisors LP now owns 37,854 shares of the conglomerate's stock valued at $8,689,000 after buying an additional 4,519 shares during the period. Oxford Asset Management LLP raised its holdings in shares of Danaher by 37.2% in the 4th quarter. Oxford Asset Management LLP now owns 2,079 shares of the conglomerate's stock valued at $477,000 after buying an additional 564 shares during the period. Prosperity Consulting Group LLC raised its holdings in shares of Danaher by 2.4% in the 4th quarter. Prosperity Consulting Group LLC now owns 5,029 shares of the conglomerate's stock valued at $1,154,000 after buying an additional 117 shares during the period. Finally, Whalerock Point Partners LLC raised its holdings in shares of Danaher by 7.6% in the 4th quarter. Whalerock Point Partners LLC now owns 6,645 shares of the conglomerate's stock valued at $1,525,000 after buying an additional 470 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Up 0.4%

Shares of NYSE:DHR traded up $0.80 on Friday, hitting $206.09. 1,979,699 shares of the company's stock were exchanged, compared to its average volume of 4,171,943. The firm's 50-day moving average is $201.45 and its 200 day moving average is $199.48. The company has a market capitalization of $147.57 billion, a PE ratio of 43.85, a P/E/G ratio of 2.86 and a beta of 0.73. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $279.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The business's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DHR shares. Guggenheim reiterated a "buy" rating and issued a $250.00 price objective on shares of Danaher in a report on Wednesday, July 23rd. UBS Group lowered their target price on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen raised Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Scotiabank raised Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a research note on Friday, July 11th. Finally, Wells Fargo & Company lowered their target price on 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $247.61.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total value of $586,324.68. Following the completion of the transaction, the director directly owned 20,751 shares of the company's stock, valued at $4,379,706.06. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by 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.