Fred Alger Management LLC Reduces Position in Danaher Corporation $DHR

Key Points

• Fred Alger Management LLC decreased its stake in Danaher Corporation by 37.1%, selling 11,962 shares and now holding 20,307 shares valued at approximately $4.17 million.
• Danaher recently reported earnings of $1.80 per share for the most recent quarter, exceeding analysts' expectations and indicating a revenue increase of 3.4% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, reflecting an annualized yield of 0.7%, with a dividend payout ratio of 27.23%.

Fred Alger Management LLC trimmed its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 37.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,307 shares of the conglomerate's stock after selling 11,962 shares during the quarter. Fred Alger Management LLC's holdings in Danaher were worth $4,170,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its position in shares of Danaher by 396.0% during the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after purchasing an additional 99 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Danaher in the 4th quarter valued at $27,000. Sierra Ocean LLC grew its holdings in Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after buying an additional 76 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Danaher in the 1st quarter valued at $31,000. Finally, Dunhill Financial LLC grew its holdings in Danaher by 68.4% in the 1st quarter. Dunhill Financial LLC now owns 165 shares of the conglomerate's stock valued at $34,000 after buying an additional 67 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Down 1.3%

DHR stock traded down $2.44 during mid-day trading on Monday, reaching $187.61. The company had a trading volume of 985,100 shares, compared to its average volume of 4,121,400. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. The company has a market capitalization of $134.34 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.75. The firm has a fifty day simple moving average of $201.21 and a 200 day simple moving average of $198.78. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $279.90.

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

Danaher Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is 27.23%.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 2,778 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, the director owned 20,751 shares of the company's stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Robert W. Baird upped their target price on Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Royal Bank Of Canada set a $241.00 target price on Danaher in a report on Tuesday, September 2nd. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Barclays reiterated an "overweight" rating and set a $225.00 price target (up from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Finally, Evercore ISI lowered their price target on Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $246.35.

Danaher Company 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.