Danaher Corporation $DHR Shares Sold by Alapocas Investment Partners Inc.

Key Points

• Alapocas Investment Partners Inc. decreased its stake in Danaher Corporation by 7.6%, holding 18,896 shares worth approximately $3.73 million as of the end of the last quarter.
• Despite this decline, other institutional investors, including GHP Investment Advisors and Sierra Ocean LLC, have significantly increased their positions in Danaher, reflecting varied investor confidence.
• Danaher reported $1.80 EPS for the last quarter, exceeding estimates of $1.64, with revenues reaching $5.94 billion, indicating a year-over-year growth of 3.4%.

Alapocas Investment Partners Inc. trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,896 shares of the conglomerate's stock after selling 1,553 shares during the quarter. Danaher comprises 2.4% of Alapocas Investment Partners Inc.'s holdings, making the stock its 16th largest position. Alapocas Investment Partners Inc.'s holdings in Danaher were worth $3,733,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Danaher by 396.0% in the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after purchasing an additional 99 shares during the last quarter. Sierra Ocean LLC raised its stake in shares of Danaher by 116.9% in the first quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after purchasing an additional 76 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Danaher in the first quarter worth about $31,000. Red Tortoise LLC raised its stake in shares of Danaher by 175.0% in the second quarter. Red Tortoise LLC now owns 154 shares of the conglomerate's stock worth $30,000 after purchasing an additional 98 shares during the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of Danaher in the first quarter worth about $41,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Down 0.5%

Danaher stock opened at $208.06 on Tuesday. The stock has a market capitalization of $148.98 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.77. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $274.21. The business has a 50 day simple moving average of $201.76 and a 200-day simple moving average of $197.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. On average, analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Danaher's payout ratio is currently 27.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DHR. Scotiabank upgraded Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research note on Friday, July 11th. UBS Group reduced their price target on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Evercore ISI lifted their price target on Danaher from $226.00 to $245.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Barclays reiterated an "overweight" rating and set a $225.00 price target (up from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Finally, Robert W. Baird lifted their price target on Danaher from $229.00 to $236.00 and gave the company an "outperform" rating in a research report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.00.

Insider Activity

In other news, Director Teri List sold 2,778 shares of Danaher stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total value of $586,324.68. Following the sale, the director directly owned 20,751 shares of the company's stock, valued at $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.20% of the stock is owned by corporate insiders.

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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