Mirae Asset Global Investments Co. Ltd. Grows Holdings in Danaher Corporation $DHR

Key Points

• Mirae Asset increased its stake in Danaher by 41.8% in Q4 to 168,163 shares worth about $38.5 million, and several other large funds also added positions, leaving roughly 79% of the stock held by institutional investors.
• Danaher topped quarterly expectations with $2.23 EPS versus $2.14 expected and revenue of $6.84B (up 4.6% YoY), with analysts forecasting about $7.63 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.40 (annualized $1.60, ~0.8% yield), and analysts maintain a consensus "Moderate Buy" rating with an average price target of about $246.50 while the stock trades at a P/E near 38.6.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,163 shares of the conglomerate's stock after acquiring an additional 49,559 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Danaher were worth $38,496,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DHR. Viking Global Investors LP lifted its holdings in shares of Danaher by 543.9% during the 2nd quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate's stock worth $574,351,000 after acquiring an additional 2,455,994 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Danaher by 104.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate's stock valued at $991,923,000 after buying an additional 2,216,789 shares during the period. Generation Investment Management LLP raised its holdings in 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 buying an additional 1,689,020 shares during the period. Ameriprise Financial Inc. raised its holdings in Danaher by 211.7% in the third quarter. Ameriprise Financial Inc. now owns 2,088,089 shares of the conglomerate's stock valued at $414,038,000 after buying an additional 1,418,243 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Danaher by 33.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,519,013 shares of the conglomerate's stock valued at $697,680,000 after buying an additional 891,210 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Up 0.5%

Shares of NYSE:DHR opened at $194.77 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Danaher Corporation has a 52-week low of $180.03 and a 52-week high of $242.80. The company has a 50 day moving average of $198.81 and a two-hundred day moving average of $214.68. The company has a market capitalization of $137.84 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.79 billion. During the same quarter last year, the company earned $2.14 earnings per share. The business's quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be given 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 dividend on an annualized basis and a dividend yield of 0.8%. Danaher's dividend payout ratio is 31.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DHR. TD Cowen cut their price target on shares of Danaher from $270.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Barclays cut their price target on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday. KeyCorp restated an "overweight" rating on shares of Danaher in a report on Thursday, January 29th. Leerink Partners raised their price target on shares of Danaher from $260.00 to $270.00 and gave the company an "outperform" rating in a report on Friday, January 16th. Finally, Argus set a $265.00 price target on shares of Danaher in a report on Wednesday, January 14th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $246.50.

Insider Buying and Selling

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 10.80% of the stock is currently owned by corporate insiders.

Danaher Profile

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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