Danaher Corporation $DHR Shares Sold by DNB Asset Management AS

Key Points

• DNB Asset Management AS cut its Danaher stake by 21.1% in the fourth quarter, selling 34,639 shares and leaving it with 129,293 shares valued at about $29.6 million.
• Danaher shares were trading near their 52-week low at $161.95, down 1.6%, with the stock well below its 50-day and 200-day moving averages.
• The company recently beat earnings estimates with quarterly EPS of $2.06 versus $1.94 expected, while announcing a quarterly dividend of $0.40 per share and maintaining a Moderate Buy analyst consensus.

DNB Asset Management AS trimmed its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,293 shares of the conglomerate's stock after selling 34,639 shares during the period. DNB Asset Management AS's holdings in Danaher were worth $29,598,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DHR. Sivia Capital Partners LLC boosted its position in Danaher by 6.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock valued at $397,000 after buying an additional 119 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock valued at $10,947,000 after purchasing an additional 14,217 shares in the last quarter. Main Street Financial Solutions LLC raised its stake in shares of Danaher by 40.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock valued at $610,000 after purchasing an additional 886 shares in the last quarter. Ieq Capital LLC raised its stake in Danaher by 64.2% during the second quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock worth $14,957,000 after acquiring an additional 29,592 shares during the period. Finally, HUB Investment Partners LLC raised its stake in Danaher by 30.7% during the second quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock worth $273,000 after acquiring an additional 325 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Down 1.6%

Danaher stock opened at $161.95 on Friday. The company has a market capitalization of $114.62 billion, a P/E ratio of 31.32, a P/E/G ratio of 2.16 and a beta of 0.81. The firm's fifty day simple moving average is $186.30 and its 200-day simple moving average is $210.38. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. 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 released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 EPS. Sell-side analysts forecast that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Danaher's dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DHR shares. TD Cowen dropped their price target on shares of Danaher from $245.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Evercore increased their price objective on shares of Danaher from $225.00 to $232.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. Royal Bank Of Canada assumed coverage on shares of Danaher in a report on Thursday. They set an "outperform" rating and a $200.00 target price for the company. UBS Group decreased their price objective on shares of Danaher from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Finally, Barclays decreased their price objective on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Danaher has a consensus rating of "Moderate Buy" and a consensus target price of $238.65.

Insider Transactions at Danaher

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the transaction, the executive vice president directly owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.80% of the company's stock.

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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