Mackenzie Financial Corp Sells 690,535 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Mackenzie Financial Corp has decreased its position in Danaher Corporation by 41.4%, now holding 975,609 shares worth approximately $200 million.
• Danaher recently reported quarterly earnings of $1.80 per share, surpassing analysts' expectations, with revenue increasing by 3.4% year-over-year.
• The company announced a quarterly dividend of $0.32, which reflects an annual yield of 0.62% and a dividend payout ratio of 27.23%.

Mackenzie Financial Corp reduced its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 975,609 shares of the conglomerate's stock after selling 690,535 shares during the quarter. Mackenzie Financial Corp owned 0.14% of Danaher worth $200,000,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DHR. GHP Investment Advisors Inc. boosted its position in Danaher by 396.0% during the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after purchasing an additional 99 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Danaher during the 4th quarter worth $27,000. Sierra Ocean LLC lifted its stake in shares of Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 76 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Danaher in the first quarter worth $31,000. Finally, Hurley Capital LLC acquired a new position in Danaher during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DHR. JPMorgan Chase & Co. decreased their price target on Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wolfe Research lowered their price target on Danaher from $275.00 to $220.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Bank of America reduced their price objective on shares of Danaher from $265.00 to $230.00 in a research note on Monday, April 14th. TD Cowen raised their target price on shares of Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Evercore ISI cut their target price on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and an average price target of $247.61.

Insiders Place Their Bets

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the transaction, the chairman owned 3,105,808 shares in the company, valued at $611,036,665.92. This represents a 28.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by company insiders.

Danaher Stock Performance

Danaher stock traded down $4.34 during trading hours on Thursday, hitting $199.66. The company had a trading volume of 2,879,747 shares, compared to its average volume of 4,281,359. Danaher Corporation has a one year low of $171.00 and a one year high of $281.70. The firm has a market cap of $142.96 billion, a PE ratio of 42.39, a PEG ratio of 2.87 and a beta of 0.77. The firm has a 50-day moving average of $197.05 and a 200 day moving average of $203.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same period last year, the firm posted $1.72 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, June 27th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.64%. Danaher's dividend payout ratio is 27.23%.

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.