Danaher Corporation $DHR Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management reduced its Danaher stake by 13.1% in the second quarter, selling 7,499 shares and retaining 49,772 shares valued at approximately $9.5 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share and $6.26 billion in revenue, with revenue rising 5.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $228.91, compared with the stock’s recent price of $207.46.

HB Wealth Management LLC cut its position in Danaher Corporation (NYSE:DHR - Free Report) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,772 shares of the conglomerate's stock after selling 7,499 shares during the period. HB Wealth Management LLC's holdings in Danaher were worth $9,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Danaher in the 2nd quarter valued at $10,492,520,000. Norges Bank purchased a new stake in shares of Danaher during the fourth quarter worth $2,177,106,000. Jupiter Topco LLC acquired a new stake in shares of Danaher in the second quarter valued at about $1,456,317,000. Generation Investment Management LLP acquired a new stake in shares of Danaher in the second quarter valued at about $1,287,949,000. Finally, Bank of America Corp DE purchased a new position in shares of Danaher in the second quarter worth about $993,846,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Trading Down 0.1%

Shares of DHR opened at $207.46 on Monday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The firm has a market capitalization of $145.84 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.59 and a beta of 0.78. The firm has a 50-day moving average price of $201.74 and a 200 day moving average price of $192.14. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. Sell-side analysts forecast that Danaher Corporation will post 8.53 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DHR. HSBC lowered their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, June 3rd. Wells Fargo & Company decreased their target price on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their target price on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. DZ Bank initiated coverage on Danaher in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 price target for the company. Finally, Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.91.

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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