Danaher Corporation $DHR Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group reduced its Danaher stake by 1.1% in the second quarter, selling 23,368 shares and retaining 2.10 million shares worth approximately $400.5 million. Institutional investors and hedge funds collectively own 79.05% of DHR.
• Danaher exceeded quarterly expectations, reporting EPS of $1.94 versus the $1.85 consensus and revenue of $6.26 billion, up 5.5% year over year. Shares opened at $205.23, below the analyst consensus price target of $228.91.
• Analyst sentiment remains broadly positive, with one Strong Buy, 19 Buy, and five Hold ratings, producing a “Moderate Buy” consensus. However, several firms recently lowered price targets or downgraded their ratings.

Baird Financial Group Inc. lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,102,554 shares of the conglomerate's stock after selling 23,368 shares during the quarter. Baird Financial Group Inc. owned 0.30% of Danaher worth $400,494,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DHR. High Note Wealth LLC boosted its position in Danaher by 19.2% in the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after buying an additional 47 shares during the period. First Command Advisory Services Inc. increased its position in shares of Danaher by 4.4% during the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock worth $253,000 after acquiring an additional 47 shares during the period. GW&K Investment Management LLC raised its stake in shares of Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate's stock valued at $138,000 after acquiring an additional 47 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Danaher by 0.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate's stock valued at $3,057,000 after purchasing an additional 48 shares during the period. Finally, Gabelli Funds LLC grew its stake in Danaher by 0.3% during the 4th quarter. Gabelli Funds LLC now owns 18,981 shares of the conglomerate's stock worth $4,345,000 after purchasing an additional 50 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Price Performance

Shares of DHR opened at $205.23 on Wednesday. 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 fifty-two week low of $160.93 and a fifty-two week high of $242.80. The firm has a 50-day simple moving average of $202.33 and a 200-day simple moving average of $192.13. The company has a market capitalization of $144.28 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. 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 firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DHR. Wells Fargo & Company cut their target price 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. Piper Sandler initiated coverage on shares of Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target for the company. TD Cowen reduced their price objective on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Wolfe Research downgraded shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Finally, Citigroup initiated coverage on Danaher in a report on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Company Profile

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 businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company's portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.

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