JM2 Capital Inc. Takes $1.33 Million Position in Danaher Corporation $DHR

Key Points

• JM2 Capital initiated a new position in Danaher, acquiring 5,815 shares worth about $1.33 million in Q4, representing 1.1% of JM2’s portfolio and its 23rd largest holding.
• Large institutions have been adding to Danaher—most notably Generation Investment (+34%) and Massachusetts Financial Services (+104.7%)—with hedge funds and other institutional investors owning about 79.05% of the stock, while analysts maintain a “Moderate Buy” consensus (18 Buys, 3 Holds) and an average price target of $249.60.
• Danaher recently beat quarterly estimates (EPS $2.23 vs. $2.14; revenue $6.84B vs. $6.79B), has a market cap of $138.66B and a P/E of 38.88, and raised its quarterly dividend to $0.40 (annualized $1.60, ~0.8% yield).

JM2 Capital Inc. acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,815 shares of the conglomerate's stock, valued at approximately $1,331,000. Danaher makes up 1.1% of JM2 Capital Inc.'s portfolio, making the stock its 23rd largest position.

Several other large investors have also made changes to their positions in the business. Capital International Investors lifted its position in shares of Danaher by 1.9% in the third quarter. Capital International Investors now owns 16,758,240 shares of the conglomerate's stock valued at $3,318,926,000 after acquiring an additional 312,951 shares in the last quarter. Generation Investment Management LLP lifted its position in shares of Danaher by 34.0% in the third quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate's stock valued at $1,319,354,000 after acquiring an additional 1,689,020 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Danaher by 5.0% in the third quarter. Legal & General Group Plc now owns 4,452,118 shares of the conglomerate's stock valued at $882,677,000 after acquiring an additional 211,053 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Danaher by 0.7% in the third quarter. Fisher Asset Management LLC now owns 4,369,219 shares of the conglomerate's stock worth $866,241,000 after buying an additional 28,583 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Danaher by 104.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate's stock worth $991,923,000 after buying an additional 2,216,789 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DHR. Leerink Partners boosted their target price on Danaher from $260.00 to $270.00 and gave the stock an "outperform" rating in a research report on Friday, January 16th. TD Cowen reiterated a "buy" rating on shares of Danaher in a research report on Wednesday, January 7th. The Goldman Sachs Group decreased their target price on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday. Guggenheim boosted their target price on Danaher from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, January 2nd. Finally, Jefferies Financial Group decreased their target price on Danaher from $265.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $249.60.

Insiders Place Their Bets

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the business'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 transaction of $274,573.20. Following the sale, the executive vice president directly owned 5,099 shares of the company's stock, valued at $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.10% of the stock is owned by insiders.

Danaher Price Performance

NYSE:DHR opened at $195.94 on Tuesday. The business's 50-day moving average is $200.48 and its 200 day moving average is $214.79. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. Danaher Corporation has a 12 month low of $180.03 and a 12 month high of $242.80. The company has a market capitalization of $138.66 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.57 and a beta of 0.95.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.09. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The company had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.79 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 27th. This is an increase from Danaher's previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher's payout ratio is presently 31.75%.

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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