Danaher Corporation $DHR Shares Sold by Beacon Investment Advisory Services Inc.

Key Points

• Beacon Investment Advisory Services Inc. has reduced its stake in Danaher Corporation by 19.8%, selling 24,111 shares and leaving them with 97,403 shares valued at approximately $19.24 million.
• Multiple hedge funds have adjusted their positions in Danaher, with Wealth Effects LLC increasing its holdings by 69.3% in the second quarter.
• Danaher Corporation's stock recently received updated price targets from various brokerages, with Barclays setting an overweight rating and a target price of $225.00.

Beacon Investment Advisory Services Inc. decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 19.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,403 shares of the conglomerate's stock after selling 24,111 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Danaher were worth $19,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Wealth Effects LLC raised its holdings in Danaher by 69.3% in the 2nd quarter. Wealth Effects LLC now owns 2,065 shares of the conglomerate's stock valued at $408,000 after acquiring an additional 845 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in Danaher by 11.8% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 79,280 shares of the conglomerate's stock valued at $15,932,000 after acquiring an additional 8,399 shares during the last quarter. IMS Capital Management acquired a new stake in shares of Danaher during the 2nd quarter worth approximately $2,107,000. DB Fitzpatrick & Co Inc increased its holdings in shares of Danaher by 2.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 8,743 shares of the conglomerate's stock worth $1,727,000 after buying an additional 221 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in shares of Danaher by 8.7% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,747 shares of the conglomerate's stock worth $359,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DHR. Barclays restated an "overweight" rating and set a $225.00 price target (up previously from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Evercore ISI cut their price target on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Bank of America cut their price target on shares of Danaher from $230.00 to $220.00 and set a "buy" rating for the company in a report on Monday. Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target for the company in a report on Friday, July 11th. Finally, Wells Fargo & Company cut their price target on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $245.91.

Insider Activity

In other news, Director Teri List sold 2,778 shares of Danaher stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the sale, the director directly owned 20,751 shares of the company's stock, valued at approximately $4,379,706.06. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.10% of the company's stock.

Danaher Stock Performance

NYSE:DHR opened at $185.90 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $279.90. The stock has a market capitalization of $133.11 billion, a P/E ratio of 39.55, a PEG ratio of 2.70 and a beta of 0.75. The company has a 50 day moving average price of $199.80 and a 200 day moving average price of $197.89.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter last year, the company posted $1.72 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities research analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's payout ratio is 27.23%.

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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