Danaher Corporation $DHR Shares Sold by Renaissance Investment Group LLC

Key Points

• Renaissance Investment Group LLC reduced its holdings in Danaher Corporation by 3.5%, selling 1,381 shares during the second quarter, leaving it with 38,007 shares valued at $7,508,000.
• Several institutional investors significantly increased their positions in Danaher, with Nuveen LLC investing approximately $833.9 million and GAMMA Investing LLC boosting its stake by over 24,958%.
• A number of analysts have set new price targets for Danaher stock, with Guggenheim issuing a target of $250.00 and Barclays increasing its target to $225.00, reflecting a consensus of Moderate Buy among analysts.

Renaissance Investment Group LLC decreased its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,007 shares of the conglomerate's stock after selling 1,381 shares during the quarter. Renaissance Investment Group LLC's holdings in Danaher were worth $7,508,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in DHR. Nuveen LLC purchased a new stake in shares of Danaher in the first quarter worth $833,941,000. GAMMA Investing LLC lifted its stake in shares of Danaher by 24,958.2% in the 1st quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock valued at $383,524,000 after purchasing an additional 1,863,381 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Danaher by 4,248.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock worth $376,347,000 after purchasing an additional 1,601,800 shares during the last quarter. Invesco Ltd. raised its position in Danaher by 44.5% during the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock valued at $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Danaher by 290.6% in the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate's stock valued at $295,550,000 after acquiring an additional 1,072,617 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on DHR shares. Royal Bank Of Canada set a $241.00 price target on Danaher in a research note on Tuesday, September 2nd. Wells Fargo & Company cut their price target on Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen raised Danaher from a "hold" rating to a "buy" rating in a report on Friday, June 27th. UBS Group cut their price objective on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $246.35.

Danaher Stock Down 1.0%

NYSE DHR traded down $1.96 during trading on Friday, reaching $193.31. The company's stock had a trading volume of 5,932,115 shares, compared to its average volume of 3,243,103. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $279.90. The stock has a market capitalization of $138.42 billion, a PE ratio of 41.13, a PEG ratio of 2.72 and a beta of 0.75. 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 business has a 50-day moving average price of $200.17 and a 200-day moving average price of $198.39.

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, beating the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's payout ratio is currently 27.23%.

Insider Activity at Danaher

In other news, Director Teri List sold 2,778 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 20,751 shares in the company, valued at $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.10% of the stock is currently owned by corporate 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.