Front Street Capital Management Inc. Sells 6,632 Shares of Danaher Corporation $DHR

Key Points

• Front Street Capital Management Inc. holds a stake of $25.38 million in Danaher Corporation, accounting for approximately 4.8% of its total holdings after a 5.1% decrease in shares during the first quarter.
• Danaher Corporation reported $1.80 earnings per share for the last quarter, surpassing the consensus estimate of $1.64, with revenue of $5.94 billion, which was also above expectations.
• Institutional investors own approximately 79.05% of Danaher's stock, with recent increases in ownership reported from several hedge funds during the fourth quarter.

Front Street Capital Management Inc. trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,796 shares of the conglomerate's stock after selling 6,632 shares during the quarter. Danaher comprises 4.8% of Front Street Capital Management Inc.'s holdings, making the stock its 7th largest position. Front Street Capital Management Inc.'s holdings in Danaher were worth $25,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Temasek Holdings Private Ltd purchased a new position in shares of Danaher in the first quarter worth about $13,325,000. Teewinot Capital Advisers L.L.C. purchased a new position in Danaher during the first quarter valued at approximately $693,000. UniSuper Management Pty Ltd raised its position in Danaher by 1.6% during the first quarter. UniSuper Management Pty Ltd now owns 170,505 shares of the conglomerate's stock valued at $34,954,000 after acquiring an additional 2,667 shares in the last quarter. Scientech Research LLC purchased a new position in Danaher during the first quarter valued at approximately $589,000. Finally, Select Equity Group L.P. raised its position in Danaher by 37.9% during the first quarter. Select Equity Group L.P. now owns 212,766 shares of the conglomerate's stock valued at $43,617,000 after acquiring an additional 58,485 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Price Performance

Shares of Danaher stock traded down $4.39 on Tuesday, reaching $194.24. The company's stock had a trading volume of 3,344,891 shares, compared to its average volume of 2,899,976. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $201.82 and a 200-day moving average price of $199.20. The company has a market capitalization of $139.09 billion, a P/E ratio of 41.33, a PEG ratio of 2.77 and a beta of 0.75. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Analysts expect that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.7%. Danaher's dividend payout ratio is presently 27.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DHR shares. Barclays reiterated an "overweight" rating and set a $225.00 price target (up from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Robert W. Baird lifted their price target on Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Danaher from $240.00 to $235.00 in a research report on Thursday, June 5th. Finally, UBS Group cut their price objective on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $246.35.

Insider Activity

In other news, Director Teri List sold 2,778 shares of Danaher stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total value of $586,324.68. Following the sale, the director directly owned 20,751 shares of the company's stock, valued at $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.20% of the stock is owned by corporate insiders.

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.