Riverbridge Partners LLC Sells 7,002 Shares of Danaher Corporation $DHR

Key Points

• Riverbridge Partners LLC has reduced its stake in Danaher Corporation by 2.6%, selling 7,002 shares and now holding 259,984 shares valued at approximately $51.36 million.
• Numerous institutional investors have increased their positions in Danaher, including Wealth Effects LLC, which boosted its stake by 69.3% during the same quarter.
• Danaher recently announced a quarterly $0.32 dividend, set to be paid on October 31st, representing an annualized yield of 0.7%.

Riverbridge Partners LLC trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,984 shares of the conglomerate's stock after selling 7,002 shares during the quarter. Riverbridge Partners LLC's holdings in Danaher were worth $51,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Effects LLC increased its position in Danaher by 69.3% in the second quarter. Wealth Effects LLC now owns 2,065 shares of the conglomerate's stock worth $408,000 after purchasing an additional 845 shares during the period. Foster Victor Wealth Advisors LLC increased its position in Danaher by 11.8% in the second quarter. Foster Victor Wealth Advisors LLC now owns 79,280 shares of the conglomerate's stock worth $15,932,000 after purchasing an additional 8,399 shares during the period. IMS Capital Management acquired a new stake in Danaher in the second quarter worth about $2,107,000. DB Fitzpatrick & Co Inc increased its position in Danaher by 2.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 8,743 shares of the conglomerate's stock worth $1,727,000 after purchasing an additional 221 shares during the period. Finally, Accurate Wealth Management LLC increased its position in Danaher by 8.7% in the second quarter. Accurate Wealth Management LLC now owns 1,747 shares of the conglomerate's stock worth $359,000 after purchasing an additional 140 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $586,324.68. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Danaher Price Performance

Shares of DHR opened at $185.90 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. The stock has a 50 day simple moving average of $199.80 and a 200 day simple moving average of $197.89. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $279.90. The firm has a market capitalization of $133.11 billion, a PE ratio of 39.55, a P/E/G ratio of 2.70 and a beta of 0.75.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.70% and a net margin of 14.21%.The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the previous year, the firm earned $1.72 EPS. Danaher's quarterly revenue was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on DHR. Royal Bank Of Canada set a $241.00 price objective on Danaher in a research report on Tuesday, September 2nd. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Barclays restated an "overweight" rating and set a $225.00 target price (up from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. UBS Group decreased their target price 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, Robert W. Baird boosted their target price on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.91.

Danaher 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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