Danaher Corporation $DHR Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management cut its Danaher stake by 10.9% in the third quarter, selling 118,264 shares; it retained 964,840 shares worth about $213.8 million.
• Analyst sentiment remains positive overall: Danaher has a “Moderate Buy” consensus rating and an average price target of $242.91, with 18 Buy and five Hold ratings.
• Danaher reported quarterly EPS of $2.11, beating the $1.92 consensus, while revenue of $6.55 billion came in just below estimates; revenue rose 8.3% year over year.

King Luther Capital Management Corp lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,840 shares of the conglomerate's stock after selling 118,264 shares during the quarter. Danaher comprises approximately 0.9% of King Luther Capital Management Corp's portfolio, making the stock its 28th biggest position. King Luther Capital Management Corp owned about 0.14% of Danaher worth $213,760,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Banyan Capital Management Inc. purchased a new position in Danaher during the third quarter worth about $3,777,000. Ritholtz Wealth Management boosted its holdings in Danaher by 29.3% in the 3rd quarter. Ritholtz Wealth Management now owns 12,634 shares of the conglomerate's stock valued at $2,799,000 after purchasing an additional 2,860 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in Danaher by 3.6% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,923 shares of the conglomerate's stock valued at $426,000 after purchasing an additional 67 shares in the last quarter. Machina Capital S.A.S. acquired a new position in Danaher during the 3rd quarter worth approximately $1,519,000. Finally, Riverbridge Partners LLC increased its position in Danaher by 9.0% during the 3rd quarter. Riverbridge Partners LLC now owns 243,517 shares of the conglomerate's stock worth $53,951,000 after purchasing an additional 20,113 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

DHR has been the subject of several recent analyst reports. Deutsche Bank reissued a "buy" rating and issued a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Citigroup lifted their price target on Danaher from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Royal Bank Of Canada upped their price objective on Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, October 5th. DZ Bank cut Danaher from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 27th. Finally, Barclays increased their price objective on Danaher from $255.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.91.

Insider Buying and Selling at Danaher

In other news, EVP Gregory M. Milosevich sold 2,100 shares of Danaher stock in a transaction on Monday, November 9th. The stock was sold at an average price of $230.62, for a total transaction of $484,302.00. Following the completion of the transaction, the executive vice president owned 22,367 shares of the company's stock, valued at $5,158,277.54. The trade was a 8.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Christopher Bouda sold 7,598 shares of Danaher stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total value of $1,782,186.88. Following the transaction, the chief accounting officer directly owned 9,107 shares of the company's stock, valued at $2,136,137.92. This trade represents a 45.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.80% of the stock is currently owned by corporate insiders.

Danaher Price Performance

Shares of NYSE:DHR opened at $235.47 on Thursday. The business's 50 day simple moving average is $221.67 and its 200-day simple moving average is $201.56. The firm has a market capitalization of $165.66 billion, a price-to-earnings ratio of 38.54, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.19. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The company's revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Danaher Corporation will post 8.59 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher's payout ratio is presently 26.19%.

Danaher Profile

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company's businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.

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