Danaher Corporation $DHR Shares Sold by Welch & Forbes LLC

Key Points

• Welch & Forbes LLC trimmed its Danaher stake by 1.0% in the first quarter, selling 6,338 shares and ending with 612,657 shares valued at about $116.16 million.
• Danaher shares rose 1.6% to $199.11, near their 200-day moving average, with the stock trading in a 52-week range of $160.93 to $242.80.
• The company beat earnings expectations with $2.06 EPS versus $1.94 expected, and it also declared a quarterly dividend of $0.40 per share payable July 31.

Welch & Forbes LLC cut its stake in Danaher Corporation (NYSE:DHR - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 612,657 shares of the conglomerate's stock after selling 6,338 shares during the quarter. Danaher makes up approximately 1.5% of Welch & Forbes LLC's investment portfolio, making the stock its 19th largest position. Welch & Forbes LLC owned approximately 0.09% of Danaher worth $116,160,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Enterprise Financial Services Corp grew its position in Danaher by 1.4% during the fourth quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock valued at $737,000 after buying an additional 46 shares during the period. Kennebec Savings Bank grew its position in shares of Danaher by 1.4% during the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock valued at $766,000 after acquiring an additional 46 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Danaher by 2.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock valued at $428,000 after purchasing an additional 47 shares in the last quarter. High Note Wealth LLC raised its holdings in Danaher by 19.2% in the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock worth $67,000 after purchasing an additional 47 shares during the period. Finally, First Command Advisory Services Inc. boosted its position in Danaher by 4.4% during the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock worth $253,000 after purchasing an additional 47 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Up 1.6%

NYSE DHR traded up $3.13 on Friday, reaching $199.11. 3,847,629 shares of the company were exchanged, compared to its average volume of 3,706,558. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The business's fifty day moving average price is $180.59 and its 200 day moving average price is $199.48. The stock has a market capitalization of $140.92 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $5.95 billion for the quarter, compared to analysts' expectations of $6 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The company's revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Danaher Corporation will post 8.44 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher's dividend payout ratio (DPR) is 30.95%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DHR. Royal Bank Of Canada began coverage on Danaher in a research note on Thursday, May 14th. They set an "outperform" rating and a $200.00 target price for the company. DZ Bank assumed coverage on shares of Danaher in a research report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Morgan Stanley reduced their price target on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn set a $205.00 price objective on Danaher in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $231.64.

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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