Danaher Corporation $DHR Position Lowered by BigSur Wealth Management LLC

Key Points

• BigSur Wealth Management reduced its Danaher position by 23.1% in the third quarter, selling 4,600 shares and retaining 15,295 shares valued at approximately $3.4 million.
• Danaher reported quarterly EPS of $1.94, 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.
• Analysts remain broadly positive, with Danaher holding a “Moderate Buy” consensus rating and an average price target of $235.41; the stock recently traded at $223.30.

BigSur Wealth Management LLC lessened its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,295 shares of the conglomerate's stock after selling 4,600 shares during the quarter. BigSur Wealth Management LLC's holdings in Danaher were worth $3,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Danaher in the second quarter worth approximately $10,492,520,000. Wellington Management Group LLP lifted its holdings in shares of Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock worth $3,108,031,000 after purchasing an additional 1,542,310 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Danaher in the 2nd quarter valued at $1,456,317,000. Generation Investment Management LLP acquired a new stake in Danaher in the 2nd quarter valued at $1,287,949,000. Finally, Bank of America Corp DE bought a new stake in Danaher during the 2nd quarter valued at $993,846,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Stock Up 0.9%

Danaher stock opened at $223.30 on Wednesday. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. 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 firm's 50-day simple moving average is $212.41 and its 200 day simple moving average is $195.13. The stock has a market cap of $156.98 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the business posted $0.77 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be 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 of this dividend is Wednesday, September 30th. Danaher's dividend payout ratio (DPR) is presently 28.42%.

Analyst Ratings Changes

Several research firms have weighed in on DHR. Barclays upped their price objective on shares of Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. UBS Group initiated coverage on shares of Danaher in a report on Wednesday, September 9th. They set a "buy" rating and a $250.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 21st. Morgan Stanley boosted their target price on shares of Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Danaher currently has an average rating of "Moderate Buy" and an average target price of $235.41.

About Danaher

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.

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.