CX Institutional Grows Stake in Danaher Corporation $DHR

Key Points

• CX Institutional boosted its Danaher stake by 3,943.8%, adding 34,705 shares to finish the quarter with 35,585 shares worth about $8.15 million.
• Danaher beat quarterly EPS estimates ($2.06 vs. $1.94) while revenue slightly missed expectations, and the company raised its quarterly dividend to $0.40 (a $1.60 annualized payout, ~0.9% yield).
• Analysts maintain a Moderate Buy consensus with a $240.70 average price target, even as the stock trades around $175 and roughly 79% of shares are held by institutions.

CX Institutional raised its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 3,943.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,585 shares of the conglomerate's stock after buying an additional 34,705 shares during the quarter. CX Institutional's holdings in Danaher were worth $8,146,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DHR. JPL Wealth Management LLC purchased a new position in Danaher during the 3rd quarter valued at approximately $25,000. Elevated Capital Advisors LLC purchased a new position in Danaher during the 4th quarter valued at approximately $26,000. WFA of San Diego LLC purchased a new position in Danaher during the 2nd quarter valued at approximately $26,000. ANTIPODES PARTNERS Ltd purchased a new position in Danaher during the 3rd quarter valued at approximately $27,000. Finally, TruNorth Capital Management LLC purchased a new position in Danaher during the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Activity

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the sale, the executive vice president directly owned 5,099 shares of the company's stock, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.80% of the stock is owned by insiders.

Danaher Price Performance

NYSE:DHR opened at $175.30 on Friday. The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.34 and a beta of 0.81. Danaher Corporation has a 1 year low of $174.60 and a 1 year high of $242.80. The business has a 50 day simple moving average of $193.34 and a 200-day simple moving average of $213.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Equities analysts forecast that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, March 27th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 27th. This is a positive change from Danaher's previous quarterly dividend of $0.32. Danaher's dividend payout ratio is 30.95%.

Analyst Ratings Changes

DHR has been the subject of several research analyst reports. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. TD Cowen cut their price target on Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group restated a "buy" rating and set a $245.00 price target on shares of Danaher in a report on Tuesday, April 21st. Rothschild & Co Redburn set a $205.00 price target on Danaher in a report on Friday, April 17th. Finally, Evercore raised their price target on Danaher from $225.00 to $232.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. Eighteen 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.com, Danaher has an average rating of "Moderate Buy" and a consensus target price of $240.70.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.