Engineers Gate Manager LP Sells 66,244 Shares of Danaher Corporation $DHR

Key Points

• Engineers Gate Manager LP cut its Danaher stake by 94% in the second quarter, selling 66,244 shares and retaining 4,262 shares worth approximately $812,000. Institutional investors own 79.05% of Danaher.
• Danaher reported quarterly EPS of $1.94, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company declared a quarterly dividend of $0.40 per share, yielding 0.8% annually.
• Analysts maintain a generally positive view, with Danaher carrying a “Moderate Buy” consensus rating and an average price target of $228.91 versus its recent $211.59 share price.

Engineers Gate Manager LP lowered its stake in Danaher Corporation (NYSE:DHR - Free Report) by 94.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,262 shares of the conglomerate's stock after selling 66,244 shares during the period. Engineers Gate Manager LP's holdings in Danaher were worth $812,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DHR. Cidel Asset Management Inc. boosted its stake in shares of Danaher by 24.7% in the second quarter. Cidel Asset Management Inc. now owns 3,675 shares of the conglomerate's stock valued at $700,000 after buying an additional 729 shares during the period. Governors Lane LP acquired a new stake in shares of Danaher during the 2nd quarter worth $8,292,000. Ramsay Stattman Vela & Price Inc. increased its position in shares of Danaher by 3.8% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 62,105 shares of the conglomerate's stock worth $11,830,000 after purchasing an additional 2,288 shares during the period. Arizona State Retirement System increased its position in shares of Danaher by 1.4% in the second quarter. Arizona State Retirement System now owns 176,736 shares of the conglomerate's stock worth $33,665,000 after purchasing an additional 2,519 shares during the period. Finally, Lipe & Dalton raised its position in shares of Danaher by 4.4% in the 2nd quarter. Lipe & Dalton now owns 21,358 shares of the conglomerate's stock valued at $4,068,000 after buying an additional 900 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Danaher Stock Down 0.1%

Shares of NYSE:DHR opened at $211.59 on Monday. The firm has a market cap of $148.74 billion, a P/E ratio of 37.58, a P/E/G ratio of 2.64 and a beta of 0.78. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The business has a fifty day simple moving average of $204.09 and a 200 day simple moving average of $191.95. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business's revenue was up 5.5% on a year-over-year basis. Analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher's payout ratio is 28.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Guggenheim cut their target price on shares of Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Evercore reaffirmed an "outperform" rating and set a $230.00 target price on shares of Danaher in a research note on Monday, July 6th. Piper Sandler began coverage on shares of Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target for the company. Finally, UBS Group started coverage on Danaher in a research note on Wednesday, September 9th. They issued a "buy" rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $228.91.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company's portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.

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