Danaher Corporation $DHR Stock: Apollon Wealth Management LLC Cuts Position

Key Points

• Apollon Wealth Management reduced its Danaher position by 20.8% in the third quarter, selling 7,495 shares and retaining 28,546 shares valued at approximately $6.3 million.
• Institutional investors own 79.05% of Danaher, with several major firms—including BlackRock, Wellington Management and Bank of America—holding or adding substantial positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $242.91; Danaher also recently exceeded quarterly EPS estimates and reported 8.3% year-over-year revenue growth.

Apollon Wealth Management LLC cut its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 20.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,546 shares of the conglomerate's stock after selling 7,495 shares during the period. Apollon Wealth Management LLC's holdings in Danaher were worth $6,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in Danaher in the 2nd quarter worth approximately $10,492,520,000. Wellington Management Group LLP raised its holdings in Danaher by 10.4% during the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock valued at $3,108,031,000 after acquiring an additional 1,542,310 shares during the period. Jupiter Topco LLC bought a new stake in Danaher during the 2nd quarter valued at $1,456,317,000. Generation Investment Management LLP purchased a new stake in shares of Danaher during the second quarter worth $1,287,949,000. Finally, Bank of America Corp DE purchased a new stake in shares of Danaher during the second quarter worth $993,846,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DHR shares. Guggenheim lifted their price target on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. Wells Fargo & Company decreased their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of Danaher from $250.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Stifel Nicolaus increased their price target on shares of Danaher from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Finally, Morgan Stanley raised their price objective on shares of Danaher from $220.00 to $240.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.91.

Danaher Price Performance

Shares of Danaher stock opened at $232.79 on Tuesday. The firm has a market capitalization of $163.78 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The business's 50-day moving average price is $216.22 and its 200-day moving average price is $201.86.

Danaher (NYSE:DHR - Get Free Report) last released its 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. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. Danaher's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. Sell-side analysts forecast that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher's dividend payout ratio (DPR) is 26.19%.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.