Danaher Corporation $DHR Shares Sold by AXQ Capital LP

Key Points

• AXQ Capital LP cut its Danaher stake by 65% in the second quarter, selling 6,731 shares and retaining 3,623 shares valued at approximately $690,000. Institutional investors and hedge funds collectively own 79.05% of Danaher.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $228.91. Recent target changes ranged from $200 to $230.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted earnings per share versus the $1.85 estimate and $6.26 billion in revenue, up 5.5% year over year.

AXQ Capital LP lowered its stake in Danaher Corporation (NYSE:DHR - Free Report) by 65.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,623 shares of the conglomerate's stock after selling 6,731 shares during the period. AXQ Capital LP's holdings in Danaher were worth $690,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in shares of Danaher in the 4th quarter valued at approximately $27,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock worth $29,000 after buying an additional 53 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Danaher during the third quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new stake in Danaher during the 2nd quarter worth about $25,000. Finally, Main Street Group LTD acquired a new stake in Danaher during the 1st quarter worth about $25,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Guggenheim cut their target price on shares of Danaher from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Citigroup assumed coverage on shares of Danaher in a research note on Tuesday, May 26th. They set a "buy" rating and a $230.00 target price for the company. HSBC dropped their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Trading Down 0.1%

Danaher stock opened at $207.46 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company has a market capitalization of $145.84 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.59 and a beta of 0.78. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company's fifty day moving average price is $201.74 and its two-hundred day moving average price is $192.14.

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

Danaher Company Profile

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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