Quantitative Investment Management LLC Reduces Stock Holdings in Danaher Corporation $DHR

Key Points

• Quantitative Investment Management LLC cut its Danaher stake by 51.5% in the second quarter, selling 8,019 shares and retaining 7,548 shares valued at approximately $1.44 million.
• Despite the reduction, institutional ownership remains high at 79.05%, with Wellington Management, Capital International Investors, State Street and T. Rowe Price among major holders increasing their positions.
• Danaher exceeded quarterly earnings and revenue expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while analysts maintain a “Moderate Buy” consensus with a $228.91 average price target.

Quantitative Investment Management LLC lessened its stake in Danaher Corporation (NYSE:DHR - Free Report) by 51.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,548 shares of the conglomerate's stock after selling 8,019 shares during the quarter. Quantitative Investment Management LLC's holdings in Danaher were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Danaher during the 2nd quarter valued at $10,492,520,000. State Street Corp lifted its holdings in Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after buying an additional 472,608 shares in the last quarter. Capital International Investors boosted its position in Danaher by 8.9% in the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after buying an additional 1,487,768 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Danaher by 10.4% during the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock valued at $3,108,031,000 after acquiring an additional 1,542,310 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock valued at $3,656,595,000 after acquiring an additional 1,334,221 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Down 1.0%

NYSE:DHR opened at $213.90 on Tuesday. The stock has a 50-day simple moving average of $200.18 and a 200 day simple moving average of $192.31. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a market capitalization of $150.37 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. Sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DHR has been the topic of several recent analyst reports. Guggenheim cut their price target on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada raised their price objective on Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Wells Fargo & Company cut their target price on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. DZ Bank began coverage on Danaher in a research note on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price for the company. Finally, Weiss Ratings raised shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Company 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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