Danaher Corporation $DHR Shares Sold by Senator Investment Group LP

Key Points

• Senator Investment Group reduced its Danaher stake by 21.3% in the second quarter, selling 92,435 shares and retaining 340,881 shares valued at approximately $64.9 million.
• Institutional ownership remains high at 79.05%, with several funds—including Madison Asset Management—initiating or increasing positions during the period.
• Danaher exceeded quarterly expectations, reporting $1.94 EPS and $6.26 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $228.91.

Senator Investment Group LP cut its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 340,881 shares of the conglomerate's stock after selling 92,435 shares during the quarter. Danaher comprises approximately 2.4% of Senator Investment Group LP's portfolio, making the stock its 15th largest holding. Senator Investment Group LP's holdings in Danaher were worth $64,931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EP Wealth Advisors LLC purchased a new stake in shares of Danaher in the second quarter valued at about $3,807,000. Northwestern Mutual Wealth Management Co. raised its holdings in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock worth $56,777,000 after purchasing an additional 186,584 shares in the last quarter. Puzo Michael J acquired a new stake in Danaher in the second quarter valued at about $8,624,000. Madison Asset Management LLC purchased a new stake in Danaher in the 2nd quarter valued at approximately $85,451,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in Danaher in the 2nd quarter valued at approximately $20,363,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Performance

DHR opened at $216.41 on Monday. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The stock has a market cap of $152.13 billion, a P/E ratio of 38.44, a P/E/G ratio of 2.69 and a beta of 0.78. The stock's 50 day simple moving average is $199.46 and its 200 day simple moving average is $192.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore reissued an "outperform" rating and set a $230.00 target price on shares of Danaher in a research note on Monday, July 6th. DZ Bank began coverage on Danaher in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 price target on the stock. Stifel Nicolaus dropped their price objective on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Finally, Guggenheim reduced their target price on Danaher from $235.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Company 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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