Envestnet Portfolio Solutions Inc. Trims Holdings in Danaher Corporation $DHR

Key Points

• Envestnet Portfolio Solutions cut its Danaher stake by 8.9% in the fourth quarter, selling 6,968 shares and ending with 71,669 shares worth about $16.4 million.
• Several analysts lowered price targets on Danaher, though the stock still carries a Moderate Buy consensus with 19 Buy ratings and 3 Hold ratings; the average target is $238.65.
• Danaher reported strong quarterly earnings, posting $2.06 EPS versus the $1.94 estimate, while also announcing a quarterly dividend of $0.40 per share.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,669 shares of the conglomerate's stock after selling 6,968 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Danaher were worth $16,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stronghold Wealth Management L.L.C. acquired a new position in Danaher during the 4th quarter worth $429,000. Entrust Financial LLC acquired a new position in Danaher during the 4th quarter worth $48,000. Mission Wealth Management LP grew its stake in Danaher by 8.5% during the 4th quarter. Mission Wealth Management LP now owns 16,204 shares of the conglomerate's stock worth $3,709,000 after purchasing an additional 1,265 shares in the last quarter. High Note Wealth LLC grew its stake in Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock worth $67,000 after purchasing an additional 47 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Danaher by 0.3% during the 4th quarter. Gabelli Funds LLC now owns 18,981 shares of the conglomerate's stock worth $4,345,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on DHR shares. Robert W. Baird lowered their target price on Danaher from $251.00 to $249.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. The Goldman Sachs Group lowered their target price on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Wells Fargo & Company lowered their target price on Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 22nd. TD Cowen lowered their price objective on Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Finally, Wolfe Research lowered their price objective on Danaher from $260.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $238.65.

Danaher Stock Up 1.9%

DHR opened at $166.97 on Wednesday. The business has a 50 day moving average price of $184.97 and a two-hundred day moving average price of $209.60. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The company has a market cap of $118.18 billion, a PE ratio of 32.30, a P/E/G ratio of 2.19 and a beta of 0.81. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. As a group, research analysts anticipate that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Danaher's dividend payout ratio is currently 30.95%.

Insider Buying and Selling at Danaher

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

About Danaher

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.

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