Danaher Corporation $DHR Holdings Trimmed by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer cut its Danaher stake by 67.5% in the third quarter, selling 211,896 shares and retaining 101,849 shares valued at approximately $22.6 million. Institutional investors and hedge funds collectively own 79.05% of DHR.
• Analysts remain broadly positive, with 18 Buy ratings and five Holds; Danaher has a consensus “Moderate Buy” rating and an average price target of $242.91.
• Danaher reported quarterly EPS of $2.11, beating estimates by $0.19, while revenue reached $6.55 billion, up 8.3% year over year. The company also paid a quarterly dividend of $0.40 per share, implying a 0.7% yield.

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in Danaher Corporation (NYSE:DHR - Free Report) by 67.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,849 shares of the conglomerate's stock after selling 211,896 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Danaher were worth $22,600,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DHR. Columbia Bank acquired a new position in shares of Danaher in the 3rd quarter worth approximately $233,000. Hoey Investments Inc. grew its position in Danaher by 2,590.0% during the 3rd quarter. Hoey Investments Inc. now owns 538 shares of the conglomerate's stock worth $119,000 after acquiring an additional 518 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Danaher by 3.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,861,336 shares of the conglomerate's stock valued at $412,379,000 after purchasing an additional 68,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Danaher during the 3rd quarter valued at $47,560,000. Finally, SFE Investment Counsel increased its holdings in Danaher by 0.6% during the 3rd quarter. SFE Investment Counsel now owns 38,934 shares of the conglomerate's stock valued at $8,626,000 after purchasing an additional 213 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Christopher Bouda sold 7,598 shares of the firm's stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total value of $1,782,186.88. Following the transaction, the chief accounting officer owned 9,107 shares of the company's stock, valued at approximately $2,136,137.92. This trade represents a 45.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Barclays lifted their price target on Danaher from $255.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. The Goldman Sachs Group reiterated a "buy" rating and set a $275.00 price target on shares of Danaher in a research report on Thursday, October 22nd. Stifel Nicolaus increased their price objective on shares of Danaher from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Finally, UBS Group reissued a "buy" rating and set a $260.00 price objective on shares of Danaher in a report on Thursday, October 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $242.91.

Danaher Trading Down 1.8%

DHR stock opened at $228.04 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The company has a market cap of $160.44 billion, a P/E ratio of 28.07, a PEG ratio of 2.94 and a beta of 0.76. The business has a fifty day moving average of $219.09 and a 200-day moving average of $201.73.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.89 earnings per share. As a group, equities research analysts expect that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Announces Dividend

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

About Danaher

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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