Cortland Associates Inc. MO Sells 11,147 Shares of Danaher Corporation $DHR

Key Points

• Cortland Associates reduced its Danaher stake by 7.1%, selling 11,147 shares during the third quarter and retaining 146,216 shares valued at approximately $32.4 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher reported quarterly EPS of $2.11, beating analyst expectations of $1.92, while revenue rose 8.3% year over year to $6.55 billion. The company also declared a quarterly dividend of $0.40 per share.
• Analysts maintain a generally positive view, with 18 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $242.91 versus the reported share price of $228.04.

Cortland Associates Inc. MO decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,216 shares of the conglomerate's stock after selling 11,147 shares during the quarter. Danaher accounts for approximately 4.7% of Cortland Associates Inc. MO's investment portfolio, making the stock its 8th biggest holding. Cortland Associates Inc. MO's holdings in Danaher were worth $32,394,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Danaher during the second quarter worth $10,492,520,000. Jupiter Topco LLC bought a new position in Danaher during the 2nd quarter valued at $1,456,317,000. Generation Investment Management LLP purchased a new position in Danaher during the 2nd quarter worth $1,287,949,000. Bank of America Corp DE bought a new stake in shares of Danaher in the 2nd quarter worth $993,846,000. Finally, Legal & General Group Plc bought a new stake in shares of Danaher in the 2nd quarter worth $801,056,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Performance

NYSE:DHR opened at $228.04 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. The business has a fifty day simple moving average of $219.09 and a two-hundred day simple moving average of $201.73. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a market capitalization of $160.44 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.94 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.19. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. On average, analysts expect that Danaher Corporation will post 8.59 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher's dividend payout ratio (DPR) is 26.19%.

Insider Activity at Danaher

In other news, CAO Christopher Bouda sold 7,598 shares of the business's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the transaction, the chief accounting officer owned 9,107 shares of the company's stock, valued at approximately $2,136,137.92. The trade was a 45.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DHR shares. Wells Fargo & Company dropped their price target on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. Royal Bank Of Canada upped their price objective on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a research report on Monday, October 5th. Morgan Stanley increased their price objective on shares of Danaher from $220.00 to $240.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Finally, Evercore reissued an "outperform" rating and set a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $242.91.

Danaher Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.

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