Rhenman & Partners Asset Management AB Boosts Position in Danaher Corporation $DHR

Key Points

• Rhenman & Partners Asset Management AB boosted its stake in Danaher by 10.7% to 134,452 shares (worth $26.66 million), making DHR its fourth-largest holding at about 2.9% of the fund.
• Danaher raised its quarterly dividend to $0.40 ($1.60 annualized) with an ex-dividend date of March 27, implying a yield of about 0.8% and a payout ratio of 25.4%.
• Recent results and analyst view: Danaher beat estimates with $2.23 EPS and $6.84B revenue (revenue +4.6% YoY), and analysts rate the stock a "Moderate Buy" with a consensus target of $253.86 (20 Buys, 3 Holds).

Rhenman & Partners Asset Management AB raised its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,452 shares of the conglomerate's stock after purchasing an additional 13,000 shares during the quarter. Danaher accounts for about 2.9% of Rhenman & Partners Asset Management AB's holdings, making the stock its 4th biggest holding. Rhenman & Partners Asset Management AB's holdings in Danaher were worth $26,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DHR. Sivia Capital Partners LLC grew its position in Danaher by 6.3% in the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock worth $397,000 after acquiring an additional 119 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in Danaher by 15.3% during the second quarter. Soltis Investment Advisors LLC now owns 1,981 shares of the conglomerate's stock worth $391,000 after purchasing an additional 263 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Danaher by 2.2% in the 2nd quarter. Savant Capital LLC now owns 53,591 shares of the conglomerate's stock worth $10,586,000 after purchasing an additional 1,142 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Danaher by 40.6% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 18,613 shares of the conglomerate's stock valued at $3,677,000 after purchasing an additional 5,375 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Danaher by 6.3% during the 2nd quarter. Wedbush Securities Inc. now owns 4,541 shares of the conglomerate's stock valued at $897,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Danaher Price Performance

DHR opened at $195.60 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. The stock has a market capitalization of $138.32 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 2.64 and a beta of 0.93. The stock's 50 day moving average price is $222.53 and its 200-day moving average price is $215.95. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.09. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The firm's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.14 earnings per share. On average, equities research analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. This is a positive change from Danaher's previous quarterly dividend of $0.32. Danaher's dividend payout ratio is 25.40%.

Insider Activity

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares in the company, valued at $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Danaher from $270.00 to $265.00 and set a "buy" rating for the company in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Danaher from $270.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, January 29th. Jefferies Financial Group lifted their target price on shares of Danaher from $255.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. HSBC upped their price target on shares of Danaher from $255.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, December 1st. Finally, Wells Fargo & Company lifted their price objective on Danaher from $230.00 to $240.00 and gave the stock an "equal weight" rating in a report on Monday, December 15th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Danaher presently has an average rating of "Moderate Buy" and a consensus price target of $253.86.

Danaher 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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