Danaher Corporation $DHR Stock: Arthur M. Cohen & Associates LLC Reduces Position

Key Points

• Arthur M. Cohen & Associates LLC reduced its Danaher stake by 7.1% in the third quarter, selling 8,505 shares and retaining 111,529 shares worth approximately $24.7 million. Institutional investors overall own 79.05% of Danaher.
• Analyst sentiment remains favorable, with Danaher holding a consensus “Moderate Buy” rating and an average price target of $242.91; several firms recently raised their targets to between $240 and $270.
• Danaher reported quarterly earnings of $2.11 per share, exceeding estimates of $1.92, while revenue rose 8.3% year over year to $6.55 billion. The company also declared a quarterly dividend of $0.40 per share, yielding approximately 0.7% annually.

Arthur M. Cohen & Associates LLC cut its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 7.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 111,529 shares of the conglomerate's stock after selling 8,505 shares during the period. Danaher makes up approximately 3.7% of Arthur M. Cohen & Associates LLC's holdings, making the stock its 10th largest holding. Arthur M. Cohen & Associates LLC's holdings in Danaher were worth $24,709,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DHR. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a report on Monday. Morgan Stanley boosted their price objective on shares of Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Citigroup upped their price objective on shares of Danaher from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Royal Bank Of Canada raised their target price on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $242.91.

Danaher Stock Performance

Shares of DHR opened at $232.79 on Tuesday. The firm has a market cap of $163.78 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.89 and a beta of 0.76. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. The business's 50 day moving average is $216.22 and its two-hundred day moving average is $201.86. Danaher Corporation has a 52-week low of $160.93 and a 52-week 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. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 earnings per share. Analysts forecast that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Danaher's dividend payout ratio is 26.19%.

Danaher Company Profile

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.

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