Danaher Corporation $DHR Shares Sold by Bridgefront Capital LLC

Key Points

• Bridgefront Capital LLC reduced its stake in Danaher by 44.2%, selling 6,001 shares and leaving 7,569 shares valued at about $1.50 million per its latest SEC filing.
• Danaher beat quarterly expectations (EPS $2.23 vs. $2.14 est.; revenue $6.84B vs. $6.79B) and carries a Wall Street consensus of Moderate Buy with an average target of ~$253.55.
• The company raised its quarterly dividend to $0.40 (annualized $1.60) for a yield of ~0.9%, with record date March 27 and payment on April 24.

Bridgefront Capital LLC lowered its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 44.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,569 shares of the conglomerate's stock after selling 6,001 shares during the quarter. Bridgefront Capital LLC's holdings in Danaher were worth $1,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DHR. WFA of San Diego LLC acquired a new position in Danaher during the second quarter valued at $26,000. Howard Hughes Medical Institute acquired a new stake in Danaher during the 2nd quarter worth about $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in Danaher during the 3rd quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in shares of Danaher during the 3rd quarter valued at about $28,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Danaher in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Price Performance

NYSE:DHR opened at $187.34 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $242.80. The stock's 50-day moving average price is $218.79 and its 200-day moving average price is $215.41. The stock has a market capitalization of $132.47 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 2.54 and a beta of 0.93.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.09. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.Danaher's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 EPS. As a group, equities analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Danaher's previous quarterly dividend of $0.32. Danaher's dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DHR shares. JPMorgan Chase & Co. upped their target price on Danaher from $270.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, January 29th. Leerink Partners lifted their price target on Danaher from $260.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, January 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Danaher in a report on Monday, December 29th. Morgan Stanley assumed coverage on Danaher in a research report on Monday, December 1st. They issued an "overweight" rating and a $270.00 price objective on the stock. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Danaher in a research note on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $253.55.

Insider Activity

In other news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares in the company, valued at $1,060,642.99. This trade represents a 20.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Danaher 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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