OVERSEA CHINESE BANKING Corp Ltd Has $7.81 Million Position in Danaher Corporation (NYSE:DHR)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Danaher Corporation by 3,673.5% in the first quarter, bringing its total shares to 38,037 worth approximately $7.81 million.
• Danaher reported an earnings per share of $1.80 for the last quarter, surpassing expectations, with a revenue of $5.94 billion compared to consensus estimates of $5.83 billion.
• The firm announced a quarterly dividend of $0.32 per share, translating to an annualized dividend yield of 0.6%, with a payout ratio of 27.23%.

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Danaher Corporation (NYSE:DHR - Free Report) by 3,673.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,037 shares of the conglomerate's stock after buying an additional 37,029 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Danaher were worth $7,812,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. raised its holdings in shares of Danaher by 396.0% in the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after buying an additional 99 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Danaher in the 4th quarter valued at about $27,000. Sierra Ocean LLC raised its stake in shares of Danaher by 116.9% in the first quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after acquiring an additional 76 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Danaher during the first quarter valued at approximately $31,000. Finally, Hurley Capital LLC acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $34,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Steven M. Rales sold 1,250,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman owned 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating on shares of Danaher in a research report on Monday, April 7th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 target price on shares of Danaher in a report on Wednesday, April 23rd. Argus reduced their price target on shares of Danaher from $260.00 to $240.00 in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $247.61.

Danaher Price Performance

Shares of DHR stock traded up $0.41 during trading hours on Monday, reaching $197.50. The company's stock had a trading volume of 3,176,914 shares, compared to its average volume of 4,662,791. The firm's 50 day simple moving average is $197.49 and its 200-day simple moving average is $202.16. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $279.90. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $141.42 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 2.74 and a beta of 0.73.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. Danaher's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. Sell-side analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Danaher's dividend payout ratio (DPR) is currently 27.23%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.