Harris Associates L P Trims Stock Position in Danaher Corporation $DHR

Key Points

• Harris Associates L P sold 11.6% of its stake in Danaher Corporation, reducing its shares to 15,616, valued at approximately $3.2 million.
• Several institutional investors have significantly increased their positions in Danaher, with Nuveen LLC acquiring a stake valued at about $833.9 million during the first quarter.
• Danaher's recent earnings report showed a profit of $1.80 per share, exceeding estimates, and the company anticipates earnings in the range of $7.700-$7.800 EPS for FY 2025.

Harris Associates L P lowered its position in Danaher Corporation (NYSE:DHR - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,616 shares of the conglomerate's stock after selling 2,057 shares during the quarter. Harris Associates L P's holdings in Danaher were worth $3,201,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Coastal Bridge Advisors LLC lifted its position in Danaher by 4.8% in the fourth quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock valued at $252,000 after buying an additional 50 shares during the last quarter. Hills Bank & Trust Co lifted its position in Danaher by 0.3% in the first quarter. Hills Bank & Trust Co now owns 18,015 shares of the conglomerate's stock valued at $3,693,000 after buying an additional 53 shares during the last quarter. Sageworth Trust Co lifted its position in Danaher by 2.3% in the first quarter. Sageworth Trust Co now owns 2,404 shares of the conglomerate's stock valued at $493,000 after buying an additional 54 shares during the last quarter. 1834 Investment Advisors Co. lifted its position in shares of Danaher by 3.3% during the first quarter. 1834 Investment Advisors Co. now owns 1,666 shares of the conglomerate's stock worth $342,000 after purchasing an additional 54 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Danaher by 33.3% during the first quarter. Rakuten Securities Inc. now owns 224 shares of the conglomerate's stock worth $46,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Down 0.2%

Danaher stock traded down $0.47 during mid-day trading on Thursday, hitting $198.97. The company had a trading volume of 3,627,515 shares, compared to its average volume of 4,153,999. The stock has a market cap of $142.47 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.87 and a beta of 0.75. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $279.90. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $201.94 and a 200 day moving average of $199.49.

Danaher (NYSE:DHR - Get Free Report) last announced 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. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, sell-side analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DHR has been the topic of several research reports. Guggenheim reissued a "buy" rating and set a $250.00 price target on shares of Danaher in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $241.00 price target on shares of Danaher in a research report on Tuesday. UBS Group reduced their price target on shares of Danaher from $240.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a research report on Friday, July 11th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $246.35.

Insider Buying and Selling

In other Danaher news, Director Teri List sold 2,778 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the transaction, the director directly owned 20,751 shares in the company, valued at $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.20% of the stock is owned by corporate insiders.

About Danaher

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.