Madison Asset Management LLC Lowers Stock Position in Danaher Corporation $DHR

Key Points

• Madison Asset Management trimmed its Danaher stake by 1.5% in the fourth quarter, selling 8,143 shares and ending with 545,044 shares valued at about $124.8 million.
• Danaher’s latest earnings beat expectations, with quarterly EPS of $2.06 versus the $1.94 consensus, while revenue rose 3.7% year over year to $5.95 billion.
• Despite some recent target cuts, Wall Street remains constructive on the stock: analysts have a consensus rating of Moderate Buy with an average price target of $240.70, well above the recent opening price of $166.38.

Madison Asset Management LLC trimmed its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 545,044 shares of the conglomerate's stock after selling 8,143 shares during the quarter. Danaher makes up about 1.4% of Madison Asset Management LLC's holdings, making the stock its 15th biggest position. Madison Asset Management LLC owned 0.08% of Danaher worth $124,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DHR. World Investment Advisors grew its holdings in shares of Danaher by 1.5% during the fourth quarter. World Investment Advisors now owns 13,931 shares of the conglomerate's stock worth $3,189,000 after buying an additional 211 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in shares of Danaher by 42.3% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,545 shares of the conglomerate's stock valued at $812,000 after purchasing an additional 1,053 shares during the last quarter. Argos Wealth Advisors LLC acquired a new position in shares of Danaher in the fourth quarter valued at approximately $251,000. ESG Planning DBA Harper Investing lifted its holdings in shares of Danaher by 14.3% during the fourth quarter. ESG Planning DBA Harper Investing now owns 4,718 shares of the conglomerate's stock worth $1,080,000 after purchasing an additional 590 shares during the period. Finally, HighPoint Advisor Group LLC grew its position in Danaher by 7.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 17,794 shares of the conglomerate's stock valued at $4,073,000 after buying an additional 1,176 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction 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 owned 5,099 shares in the company, valued at $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

DHR has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Danaher from $270.00 to $250.00 and set a "buy" 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 on the stock in a report on Wednesday, April 22nd. Barclays dropped their target price on Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Danaher in a research note on Thursday, January 29th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Danaher in a report on Thursday, January 29th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $240.70.

Danaher Price Performance

Danaher stock opened at $166.38 on Wednesday. The stock has a market capitalization of $117.76 billion, a P/E ratio of 32.18, a P/E/G ratio of 2.22 and a beta of 0.81. Danaher Corporation has a 12-month low of $165.25 and a 12-month high of $242.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The firm's 50-day moving average is $188.74 and its two-hundred day moving average is $211.53.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. Equities analysts predict that Danaher Corporation will post 8.43 earnings per share for the current year.

Danaher Announces Dividend

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

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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