State of New Jersey Common Pension Fund D Sells 21,100 Shares of Danaher Corporation $DHR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Danaher Corporation by 8.8%, now holding 218,736 shares valued at approximately $44.8 million.
• Danaher reported better-than-expected earnings per share of $1.80 for the latest quarter, surpassing estimates of $1.64, with revenue of $5.94 billion.
• Analysts have mixed ratings on Danaher, with price targets ranging from $205 to $247.61, reflecting a consensus rating of "Moderate Buy".

State of New Jersey Common Pension Fund D cut its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 218,736 shares of the conglomerate's stock after selling 21,100 shares during the period. State of New Jersey Common Pension Fund D's holdings in Danaher were worth $44,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FAS Wealth Partners Inc. boosted its position in Danaher by 20.6% during the 4th quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate's stock worth $2,203,000 after purchasing an additional 1,639 shares during the period. MGO One Seven LLC boosted its position in Danaher by 485.7% during the 1st quarter. MGO One Seven LLC now owns 25,098 shares of the conglomerate's stock worth $5,145,000 after purchasing an additional 20,813 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new stake in Danaher during the 1st quarter worth $539,000. Horizon Financial Services LLC boosted its position in Danaher by 20,400.0% during the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate's stock worth $1,681,000 after purchasing an additional 8,160 shares during the period. Finally, EFG Asset Management Americas Corp. boosted its position in Danaher by 13.1% during the 1st quarter. EFG Asset Management Americas Corp. now owns 36,080 shares of the conglomerate's stock worth $7,396,000 after purchasing an additional 4,191 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Up 1.5%

Shares of Danaher stock traded up $3.2250 during midday trading on Tuesday, reaching $212.2350. 4,850,794 shares of the company's stock traded hands, compared to its average volume of 4,241,222. The company has a market cap of $151.97 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 2.94 and a beta of 0.73. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $279.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. The company's 50 day simple moving average is $200.14 and its 200 day simple moving average is $199.45.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS 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 the consensus estimate of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on DHR. The Goldman Sachs Group decreased their price target on shares of Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Guggenheim reissued a "buy" rating and issued a $250.00 price objective on shares of Danaher in a research report on Wednesday, July 23rd. Leerink Partners upped their price objective on shares of Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Danaher currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Danaher Company 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.