Diversify Wealth Management LLC Reduces Holdings in Danaher Corporation $DHR

Key Points

• Diversify Wealth Management LLC cut its Danaher stake by 86.2% in the fourth quarter, leaving it with 1,674 shares worth about $394,000.
• Other institutional investors remain heavily invested in Danaher, with 79.05% of shares held by institutions and hedge funds overall. Some firms, including Capital International Investors and Massachusetts Financial Services, notably increased their positions.
• Analysts are still generally positive on the stock, with 18 Buy ratings and a consensus target price of $240.70, even as one firm downgraded the shares and Morgan Stanley trimmed its price target.

Diversify Wealth Management LLC reduced its stake in Danaher Corporation (NYSE:DHR - Free Report) by 86.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,674 shares of the conglomerate's stock after selling 10,474 shares during the quarter. Diversify Wealth Management LLC's holdings in Danaher were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital International Investors lifted its stake in shares of Danaher by 1.9% during the third quarter. Capital International Investors now owns 16,758,240 shares of the conglomerate's stock worth $3,318,926,000 after buying an additional 312,951 shares during the period. Generation Investment Management LLP increased its position in shares of Danaher by 34.0% in the 3rd quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate's stock valued at $1,319,354,000 after acquiring an additional 1,689,020 shares during the period. Legal & General Group Plc raised its stake in Danaher by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 4,452,118 shares of the conglomerate's stock worth $882,677,000 after acquiring an additional 211,053 shares during the last quarter. Fisher Asset Management LLC lifted its position in Danaher by 0.7% during the 3rd quarter. Fisher Asset Management LLC now owns 4,369,219 shares of the conglomerate's stock worth $866,241,000 after acquiring an additional 28,583 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Danaher by 104.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate's stock valued at $991,923,000 after purchasing an additional 2,216,789 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DHR. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Danaher in a report on Thursday, January 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $245.00 target price on shares of Danaher in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. KeyCorp reissued an "overweight" rating on shares of Danaher in a research report on Thursday, January 29th. Finally, Morgan Stanley decreased their price objective on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Danaher has an average rating of "Moderate Buy" and a consensus price target of $240.70.

Insider Activity

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the sale, the executive vice president directly owned 5,099 shares of the company's stock, valued at approximately $1,060,642.99. This represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 10.80% of the stock is currently owned by corporate insiders.

Danaher Stock Down 0.1%

Shares of DHR opened at $170.98 on Monday. The company has a market capitalization of $121.01 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.29 and a beta of 0.81. Danaher Corporation has a 52 week low of $170.74 and a 52 week high of $242.80. The stock's 50-day moving average price is $191.25 and its 200-day moving average price is $212.54. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. During the same period last year, the business earned $1.88 earnings per share. Danaher's quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 26th. Danaher's payout ratio is currently 30.95%.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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.