Edgestream Partners L.P. Cuts Position in Danaher Corporation (NYSE:DHR)

Edgestream Partners L.P. decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 89.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,128 shares of the conglomerate's stock after selling 27,735 shares during the period. Edgestream Partners L.P.'s holdings in Danaher were worth $641,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FAS Wealth Partners Inc. raised its position in shares of Danaher by 20.6% during the 4th quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate's stock valued at $2,203,000 after buying an additional 1,639 shares during the period. Horizon Financial Services LLC raised its position in Danaher by 20,400.0% in the first quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate's stock valued at $1,681,000 after purchasing an additional 8,160 shares during the period. Vision Capital Management Inc. acquired a new position in shares of Danaher in the 1st quarter valued at $461,000. Eos Management L.P. grew its holdings in shares of Danaher by 55.8% during the 1st quarter. Eos Management L.P. now owns 40,567 shares of the conglomerate's stock worth $8,316,000 after purchasing an additional 14,537 shares during the period. Finally, Compass Wealth Management LLC increased its position in shares of Danaher by 17.4% during the 1st quarter. Compass Wealth Management LLC now owns 39,764 shares of the conglomerate's stock worth $8,152,000 after purchasing an additional 5,891 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Danaher news, EVP Christopher Paul Riley sold 15,805 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was 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 of the company's stock, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the 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 transaction, the chairman owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Leerink Partners lifted their price target 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. Wells Fargo & Company cut their price objective on Danaher from $240.00 to $210.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Scotiabank upgraded Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a report on Friday, July 11th. Guggenheim reissued a "buy" rating and set a $250.00 price target on shares of Danaher in a research report on Wednesday, April 23rd. Finally, Argus cut their target price on shares of Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $248.48.

Danaher Price Performance

Shares of NYSE:DHR traded down $1.82 on Monday, hitting $188.23. The company had a trading volume of 5,860,397 shares, compared to its average volume of 3,532,946. The company has a market cap of $134.71 billion, a PE ratio of 36.55, a PEG ratio of 2.67 and a beta of 0.77. The business has a 50 day moving average of $196.13 and a 200 day moving average of $204.86. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $281.70. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.58 billion. Danaher had a net margin of 15.81% and a return on equity of 10.80%. As a group, equities analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.68%. Danaher's dividend payout ratio (DPR) is 24.85%.

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.