Danaher Corporation $DHR Stock Sold by CX Institutional

Key Points

• CX Institutional reduced its Danaher stake by 38.5% in the third quarter, selling 15,870 shares and retaining 25,351 shares valued at approximately $5.6 million. Institutional investors collectively own 79.05% of DHR.
• Analysts remain broadly bullish, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $232.50; Goldman Sachs, UBS, and Guggenheim set targets as high as $250.
• Danaher reported quarterly revenue of $6.26 billion and EPS of $1.94, exceeding estimates, while revenue increased 5.5% year over year. The company also announced a quarterly dividend of $0.40 per share, representing a 0.7% yield.

CX Institutional lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 38.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,351 shares of the conglomerate's stock after selling 15,870 shares during the period. CX Institutional's holdings in Danaher were worth $5,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. Main Street Group LTD purchased a new stake in Danaher during the first quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Danaher in the second quarter valued at approximately $25,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher in the fourth quarter worth approximately $27,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Danaher by 71.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock worth $29,000 after purchasing an additional 53 shares in the last quarter. Finally, Evolution Wealth Management Inc. boosted its stake in Danaher by 208.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate's stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

DHR has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. UBS Group assumed coverage on Danaher in a report on Wednesday, September 9th. They set a "buy" rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. Royal Bank Of Canada increased their price target on Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Finally, Guggenheim boosted their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average target price of $232.50.

Danaher Trading Up 1.1%

DHR opened at $214.03 on Friday. The business has a fifty day moving average price of $209.20 and a 200 day moving average price of $193.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The stock has a market capitalization of $150.46 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.64 and a beta of 0.76.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the company earned $0.77 EPS. Danaher's revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Danaher's payout ratio is presently 28.42%.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.

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