Danaher Corporation $DHR Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Danaher stake by 8.6% in the first quarter, selling 30,439 shares and retaining 322,260 shares valued at approximately $61.1 million. Institutional investors collectively own 79.05% of DHR.
• Analysts maintain a generally positive view, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $228.91, despite several firms recently lowering their targets.
• Danaher reported better-than-expected quarterly results, with EPS of $1.94 and revenue of $6.26 billion, up 5.5% year over year. The company also paid a quarterly dividend of $0.40 per share, representing a 0.8% annualized yield.

Argent Capital Management LLC trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 322,260 shares of the conglomerate's stock after selling 30,439 shares during the quarter. Danaher comprises 1.9% of Argent Capital Management LLC's investment portfolio, making the stock its 14th biggest position. Argent Capital Management LLC's holdings in Danaher were worth $61,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. Kennebec Savings Bank raised its stake in Danaher by 1.4% during the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock worth $766,000 after acquiring an additional 46 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Danaher by 2.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock worth $428,000 after purchasing an additional 47 shares during the last quarter. High Note Wealth LLC increased its position in shares of Danaher by 19.2% during the fourth quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock worth $67,000 after purchasing an additional 47 shares in the last quarter. First Command Advisory Services Inc. lifted its holdings in shares of Danaher by 4.4% in the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after purchasing an additional 47 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in shares of Danaher by 8.4% in the 4th quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate's stock valued at $138,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Analysts Set New Price Targets

DHR has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. HSBC lowered their target price on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Robert W. Baird dropped their price target on shares of Danaher from $251.00 to $249.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Argus cut their price target on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Finally, Rothschild & Co Redburn set a $205.00 price objective on Danaher in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Trading Down 0.5%

Shares of NYSE:DHR opened at $195.25 on Friday. The company has a 50 day moving average price of $188.36 and a 200 day moving average price of $195.66. The stock has a market capitalization of $137.26 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $6.12 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm's revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, June 26th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 26th. Danaher's payout ratio is currently 28.42%.

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.

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