Danaher Corporation $DHR Stock Sold by AIA Group Ltd

Key Points

• AIA Group reduced its Danaher stake by 13.4% in the third quarter, selling 19,268 shares and ending the period with 124,731 shares worth about $27.6 million.
• Analyst sentiment remains positive: 18 analysts rate the stock a Buy and five a Hold, giving Danaher a Moderate Buy consensus and an average price target of $242.91.
• Danaher reported quarterly EPS of $2.11, beating estimates of $1.92, while revenue of $6.55 billion was slightly below forecasts; revenue grew 8.3% year over year.

AIA Group Ltd cut its stake in Danaher Corporation (NYSE:DHR - Free Report) by 13.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,731 shares of the conglomerate's stock after selling 19,268 shares during the period. AIA Group Ltd's holdings in Danaher were worth $27,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DHR. BlackRock Inc. purchased a new position in shares of Danaher in the 2nd quarter valued at about $10,492,520,000. Jupiter Topco LLC acquired a new stake in Danaher during the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP purchased a new position in Danaher during the 2nd quarter worth approximately $1,287,949,000. Bank of America Corp DE acquired a new stake in shares of Danaher in the second quarter valued at approximately $993,846,000. Finally, Legal & General Group Plc acquired a new stake in shares of Danaher in the second quarter valued at approximately $801,056,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Buying and Selling at Danaher

In other news, CAO Christopher Bouda sold 7,598 shares of the firm's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the transaction, the chief accounting officer directly owned 9,107 shares of the company's stock, valued at $2,136,137.92. This trade represents a 45.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price 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. increased their target price 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. Robert W. Baird raised their price target on Danaher from $246.00 to $254.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. Guggenheim boosted 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. Finally, UBS Group reissued a "buy" rating and issued a $260.00 target price on shares of Danaher in a report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $242.91.

Danaher Price Performance

Shares of NYSE DHR opened at $229.99 on Wednesday. The firm has a market capitalization of $161.80 billion, a P/E ratio of 37.64, a PEG ratio of 2.86 and a beta of 0.76. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company's fifty day moving average is $219.38 and its two-hundred day moving average is $201.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.29 and a current ratio of 1.63.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.19. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Danaher's dividend payout ratio (DPR) is currently 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.

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.