Danaher Corporation (NYSE:DHR) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its holdings in Danaher Corporation by 13.3%, selling 45,614 shares and bringing its total ownership to $60.95 million.
• Danaher recently reported quarterly earnings of $1.80 per share, exceeding expectations by $0.16, and achieving a 3.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.32 per share, with a corresponding 0.63% dividend yield and a payout ratio of 27.23%.

Skandinaviska Enskilda Banken AB publ lessened its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 297,324 shares of the conglomerate's stock after selling 45,614 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Danaher were worth $60,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its position in shares of Danaher by 396.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after purchasing an additional 99 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Danaher in the 4th quarter worth $27,000. Sierra Ocean LLC boosted 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 valued at $29,000 after buying an additional 76 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Danaher in the first quarter valued at about $31,000. Finally, Hurley Capital LLC purchased a new stake in Danaher during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

NYSE DHR opened at $203.21 on Friday. The stock has a market cap of $145.43 billion, a P/E ratio of 43.24, a PEG ratio of 2.75 and a beta of 0.77. The company's 50-day simple moving average is $196.19 and its 200 day simple moving average is $204.15. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70. The company has a quick ratio of 1.05, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. As a group, research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. Danaher's payout ratio is 27.23%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DHR. TD Cowen increased their price target on Danaher from $240.00 to $248.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Wolfe Research lowered their target price on Danaher from $275.00 to $220.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Guggenheim reissued a "buy" rating and issued a $250.00 target price on shares of Danaher in a report on Wednesday. Citigroup reaffirmed a "buy" rating on shares of Danaher in a report on Monday, April 7th. Finally, Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective on the stock in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

Insider Activity at Danaher

In other Danaher news, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the sale, the executive vice president directly owned 15,179 shares in the company, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction on 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 completion of the sale, the chairman owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company's stock.

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.

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