HighTower Advisors LLC Sells 192,349 Shares of Danaher Corporation $DHR

Key Points

• HighTower Advisors cut its Danaher stake by 48.9% in the second quarter, selling 192,349 shares and retaining 201,323 shares valued at approximately $38.35 million.
• Analysts remain broadly bullish, with Danaher holding a “Moderate Buy” consensus rating and an average price target of $228.91, despite several firms lowering their targets.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share and $6.26 billion in revenue; revenue increased 5.5% year over year.

HighTower Advisors LLC trimmed its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 48.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,323 shares of the conglomerate's stock after selling 192,349 shares during the period. HighTower Advisors LLC's holdings in Danaher were worth $38,348,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DHR. Hilton Head Capital Partners LLC bought a new stake in Danaher during the fourth quarter worth about $27,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Danaher by 71.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. JPL Wealth Management LLC bought a new position in Danaher in the third quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Danaher during the 2nd quarter worth approximately $25,000. Finally, Main Street Group LTD acquired a new position in shares of Danaher during the 1st quarter worth approximately $25,000. Institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

DHR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. HSBC lowered their target price on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Guggenheim dropped their price target 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. TD Cowen cut their price target on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Danaher presently has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Stock Performance

DHR opened at $205.23 on Wednesday. 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 Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The business has a 50 day moving average of $202.33 and a 200-day moving average of $192.13. The stock has a market cap of $144.28 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.59 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping 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 business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm's revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current year.

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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