Covea Finance Lowers Holdings in Danaher Corporation (NYSE:DHR)

Covea Finance cut its position in Danaher Corporation (NYSE:DHR - Free Report) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,256 shares of the conglomerate's stock after selling 19,900 shares during the quarter. Covea Finance's holdings in Danaher were worth $10,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of DHR. Fortis Capital Advisors LLC raised its position in shares of Danaher by 1.3% during the 4th quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate's stock valued at $914,000 after buying an additional 50 shares in the last quarter. Fayez Sarofim & Co raised its position in shares of Danaher by 0.6% during the 4th quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate's stock valued at $1,902,000 after buying an additional 50 shares in the last quarter. Coastal Bridge Advisors LLC raised its position in shares of Danaher by 4.8% during the 4th quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock valued at $252,000 after buying an additional 50 shares in the last quarter. Perennial Investment Advisors LLC raised its position in shares of Danaher by 2.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock valued at $538,000 after buying an additional 51 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its position in shares of Danaher by 3.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,739 shares of the conglomerate's stock valued at $399,000 after buying an additional 52 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the sale, the executive vice president now owns 15,179 shares of the company's stock, valued at approximately $3,005,442. The trade was a 51.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman now directly owns 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company's stock.

Danaher Price Performance

Shares of Danaher stock opened at $196.23 on Friday. The firm has a market cap of $140.43 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.73 and a beta of 0.77. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $281.70. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The company's fifty day simple moving average is $193.89 and its two-hundred day simple moving average is $209.69.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. Danaher had a net margin of 15.81% and a return on equity of 10.80%. As a group, equities analysts expect that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.65%. Danaher's payout ratio is 24.85%.

Analyst Upgrades and Downgrades

DHR has been the topic of several research reports. Evercore ISI lowered their price objective on shares of Danaher from $240.00 to $230.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. HSBC lowered their price objective on shares of Danaher from $270.00 to $240.00 in a research report on Friday, April 25th. Citigroup restated a "buy" rating on shares of Danaher in a research report on Monday, April 7th. Leerink Partners raised their price objective on shares of Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Barclays lifted their target price on shares of Danaher from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Danaher has a consensus rating of "Moderate Buy" and a consensus target price of $248.17.

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.

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