Cypress Asset Management Inc. TX Sells 7,637 Shares of Danaher Corporation $DHR

Key Points

• Cypress Asset Management cut its Danaher stake by 62.8% in the third quarter, selling 7,637 shares and retaining 4,530 shares worth approximately $1.0 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher reported quarterly earnings of $1.94 per share, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.40 per share, equal to a 0.7% annualized yield.
• Analysts remain broadly positive, with Danaher carrying a “Moderate Buy” consensus rating and an average price target of $235.23, above its reported opening price of $217.33.

Cypress Asset Management Inc. TX decreased its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 62.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,530 shares of the conglomerate's stock after selling 7,637 shares during the period. Cypress Asset Management Inc. TX's holdings in Danaher were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Main Street Group LTD acquired a new position in shares of Danaher in the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in Danaher during the 2nd quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new position in Danaher in the 4th quarter valued at $27,000. Clal Insurance Enterprises Holdings Ltd raised its position in Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Evolution Wealth Management Inc. boosted its stake in Danaher by 208.0% in the first quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Shares of Danaher stock opened at $217.33 on Friday. The firm has a fifty day moving average of $210.88 and a two-hundred day moving average of $194.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock has a market capitalization of $152.78 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.72 and a beta of 0.76. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.7%. Danaher's dividend payout ratio (DPR) is presently 28.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DHR. Barclays upped their price target on shares of Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. TD Cowen decreased their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings raised Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Royal Bank Of Canada upped their price target on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Danaher currently has an average rating of "Moderate Buy" and an average target price of $235.23.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.

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