Kayne Anderson Rudnick Investment Management LLC Sells 7,707 Shares of Danaher Corporation $DHR

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its stake in Danaher Corporation by 5.3%, now holding 138,025 shares worth approximately $28.3 million.
• Danaher reported strong quarterly earnings with a net margin of 14.21% and a revenue of $5.94 billion, exceeding analyst expectations.
• Seventeen research analysts currently recommend a Buy rating for Danaher, with an average target price of $247.61 per share.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in Danaher Corporation (NYSE:DHR - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,025 shares of the conglomerate's stock after selling 7,707 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Danaher were worth $28,295,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

DHR has been the subject of a number of research reports. Barclays restated an "overweight" rating and issued a $225.00 target price (up from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Robert W. Baird raised their target price on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company dropped their price objective on Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective on the stock in a report on Friday, July 11th. Finally, UBS Group cut their target price on Danaher from $240.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $247.61.

Insider Transactions at Danaher

In other news, Director Teri List sold 2,778 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the sale, the director directly owned 20,751 shares of the company's stock, valued at approximately $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.10% of the company's stock.

Danaher Price Performance

Shares of NYSE DHR traded up $0.42 during midday trading on Thursday, reaching $205.42. 2,519,853 shares of the company were exchanged, compared to its average volume of 3,496,339. The stock's 50-day moving average price is $201.23 and its 200-day moving average price is $199.46. Danaher Corporation has a one year low of $171.00 and a one 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 stock has a market cap of $147.09 billion, a P/E ratio of 27.22, a PEG ratio of 2.86 and a beta of 0.73.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The firm'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. On average, sell-side analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

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.