Danaher Corporation $DHR Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Danaher stake by 5.3% in the first quarter, selling 126,100 shares and retaining 2.23 million shares valued at approximately $423.3 million. Institutional investors collectively own 79.05% of Danaher.
• Analysts maintain a generally positive outlook, with Danaher holding a consensus “Moderate Buy” rating and an average price target of $228.91, despite several recent target-price cuts.
• Danaher reported stronger-than-expected quarterly results, with EPS of $1.94 and revenue of $6.26 billion, up 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 0.8% yield.

The Manufacturers Life Insurance Company lessened its position in Danaher Corporation (NYSE:DHR - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,232,756 shares of the conglomerate's stock after selling 126,100 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.32% of Danaher worth $423,328,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DHR. Main Street Group LTD acquired a new stake in Danaher in the 1st quarter valued at about $25,000. JPL Wealth Management LLC acquired a new position in shares of Danaher in the 3rd quarter worth approximately $25,000. Elevated Capital Advisors LLC acquired a new position in shares of Danaher in the 4th quarter worth approximately $26,000. WFA of San Diego LLC bought a new stake in shares of Danaher in the 2nd quarter worth approximately $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Danaher during the fourth quarter valued at approximately $27,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DHR shares. Rothschild & Co Redburn set a $205.00 target price on shares of Danaher in a report on Friday, April 17th. Evercore reaffirmed an "outperform" rating and issued a $230.00 price target on shares of Danaher in a report on Monday, July 6th. HSBC cut their price objective on Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, The Goldman Sachs Group cut their target price on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Stock Performance

Shares of Danaher stock opened at $196.57 on Tuesday. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The stock has a market cap of $138.19 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.38 and a beta of 0.79. The business has a fifty day simple moving average of $186.29 and a 200-day simple moving average of $196.48.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company posted $0.77 EPS. The business's quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher's dividend payout ratio (DPR) is currently 28.42%.

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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