Penobscot Investment Management Company Inc. Sells 3,181 Shares of Danaher Corporation $DHR

Key Points

• Penobscot Investment Management Company Inc. reduced its holdings in Danaher Corporation by 5.2% during Q2, selling 3,181 shares, and now owns 57,451 shares valued at approximately $11.35 million.
• Several analysts have recently updated their ratings and price targets for Danaher, with an average target price of $245.91 and most analysts giving it a "Moderate Buy" rating.
• Danaher announced a quarterly dividend of $0.32 per share, with an annualized yield of 0.6%, set to be paid on October 31st to investors of record as of September 26th.

Penobscot Investment Management Company Inc. lowered its position in Danaher Corporation (NYSE:DHR - Free Report) by 5.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 57,451 shares of the conglomerate's stock after selling 3,181 shares during the period. Danaher accounts for approximately 1.0% of Penobscot Investment Management Company Inc.'s portfolio, making the stock its 26th largest position. Penobscot Investment Management Company Inc.'s holdings in Danaher were worth $11,349,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its holdings in Danaher by 396.0% in the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after buying an additional 99 shares during the period. 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 period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Danaher during the 1st quarter valued at about $31,000. Dunhill Financial LLC grew its stake in Danaher by 68.4% during the first quarter. Dunhill Financial LLC now owns 165 shares of the conglomerate's stock worth $34,000 after purchasing an additional 67 shares during the period. Finally, Costello Asset Management INC bought a new stake in Danaher in the first quarter worth approximately $41,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI reduced their price objective 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. Bank of America decreased their price target on shares of Danaher from $230.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, September 22nd. Royal Bank Of Canada set a $241.00 price objective on shares of Danaher in a report on Tuesday, September 2nd. Guggenheim restated a "buy" rating and issued a $250.00 target price on shares of Danaher in a research note on Wednesday, July 23rd. Finally, Robert W. Baird upped their price target on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $245.91.

Danaher Stock Performance

Shares of Danaher stock opened at $215.05 on Friday. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $279.41. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $200.19 and a 200-day moving average price of $197.42. The company has a market cap of $153.98 billion, a PE ratio of 45.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.77.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.16. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.Danaher's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

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

Insider Buying and Selling at Danaher

In related news, Director Teri List sold 2,778 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the transaction, the director directly owned 20,751 shares in the company, valued at approximately $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by insiders.

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.

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