Public Sector Pension Investment Board Sells 34,797 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• The Public Sector Pension Investment Board has reduced its stake in Danaher Corporation by 28.7%, selling 34,797 shares and retaining 86,337 shares valued at approximately $17.7 million.
• Danaher reported earnings of $1.80 per share for the last quarter, surpassing analysts' estimates of $1.64, with revenue increasing to $5.94 billion.
• Analysts remain optimistic about Danaher, with eighteen buy ratings issued and a consensus price target of $247.61, indicating strong investor confidence.

Public Sector Pension Investment Board trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,337 shares of the conglomerate's stock after selling 34,797 shares during the period. Public Sector Pension Investment Board's holdings in Danaher were worth $17,699,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of Danaher in the fourth quarter valued at about $27,000. 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. Sierra Ocean LLC boosted its position in Danaher by 116.9% during the first 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 acquired a new position in Danaher during the first quarter valued at approximately $31,000. Finally, Dunhill Financial LLC boosted its position in Danaher by 68.4% during the first quarter. Dunhill Financial LLC now owns 165 shares of the conglomerate's stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DHR has been the subject of several recent research reports. TD Cowen increased their price target on Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reduced their price target on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Scotiabank raised Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target for the company in a research report on Friday, July 11th. Guggenheim restated a "buy" rating and issued a $250.00 price objective on shares of Danaher in a research note on Wednesday, July 23rd. Finally, Robert W. Baird upped their price objective on Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Danaher Trading Down 0.4%

Shares of NYSE:DHR opened at $199.83 on Tuesday. The business's 50 day simple moving average is $198.68 and its 200 day simple moving average is $200.30. The company has a market capitalization of $143.09 billion, a P/E ratio of 42.52, a P/E/G ratio of 2.80 and a beta of 0.73. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $279.90. 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 issued its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion for 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%. The company's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 EPS. On average, research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

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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