Northeast Investment Management Sells 3,223 Shares of Danaher Corporation $DHR

Key Points

• Northeast Investment Management reduced its stake in Danaher Corporation by 1.9%, selling 3,223 shares, leaving them with 165,170 shares valued at approximately $32.6 million.
• Danaher Corporation reported earnings of $1.80 per share for the last quarter, exceeding analysts' estimates, with a revenue of $5.94 billion, a 3.4% increase from the previous year.
• The company declared a quarterly dividend of $0.32 per share, representing a 0.6% yield, to be paid on October 31st, with a dividend payout ratio of 27.23%.

Northeast Investment Management lowered its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,170 shares of the conglomerate's stock after selling 3,223 shares during the quarter. Danaher makes up about 1.4% of Northeast Investment Management's investment portfolio, making the stock its 21st largest position. Northeast Investment Management's holdings in Danaher were worth $32,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. raised its position in shares of Danaher by 396.0% during the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock worth $25,000 after acquiring an additional 99 shares during the last quarter. Sierra Ocean LLC grew its stake in shares of Danaher by 116.9% during the first quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock worth $29,000 after purchasing an additional 76 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Danaher during the first quarter worth $31,000. Red Tortoise LLC grew its stake in shares of Danaher by 175.0% during the second quarter. Red Tortoise LLC now owns 154 shares of the conglomerate's stock worth $30,000 after purchasing an additional 98 shares during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Danaher during the first quarter worth $41,000. Institutional investors own 79.05% of the company's stock.

Danaher Stock Down 0.8%

NYSE:DHR opened at $209.14 on Friday. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $275.51. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock has a market cap of $149.76 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 2.98 and a beta of 0.77. The stock has a 50-day moving average price of $201.60 and a two-hundred day moving average price of $197.24.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. As a group, equities analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's dividend payout ratio is currently 27.23%.

Analysts Set New Price Targets

A number of brokerages recently commented on DHR. UBS Group decreased their price objective on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen raised Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Royal Bank Of Canada set a $241.00 price objective on Danaher in a research note on Tuesday, September 2nd. Scotiabank raised Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research note on Friday, July 11th. Finally, Evercore ISI lifted their price objective on Danaher from $226.00 to $245.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $245.00.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 2,778 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the transaction, the director directly owned 20,751 shares of the company's stock, valued at $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

Danaher 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.

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