Senator Investment Group LP Takes Position in Danaher Corporation $DHR

Key Points

• Senator Investment Group LP initiated a new position in Danaher during the fourth quarter, buying 169,416 shares valued at about $38.8 million. The stake represents roughly 1.6% of the fund’s holdings and makes DHR its 20th largest position.
• Institutional ownership remains very high, with 79.05% of Danaher shares held by hedge funds and other institutional investors. Several other funds also increased their stakes in the company last quarter.
• Analysts remain broadly positive on Danaher, with the stock carrying a Moderate Buy consensus and an average price target of $233.61. The company also recently beat quarterly EPS estimates, though revenue slightly missed expectations, and it declared a $0.40 quarterly dividend.

Senator Investment Group LP bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 169,416 shares of the conglomerate's stock, valued at approximately $38,783,000. Danaher comprises approximately 1.6% of Senator Investment Group LP's holdings, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DHR. Enterprise Financial Services Corp raised its position in shares of Danaher by 1.4% during the 4th quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock worth $737,000 after acquiring an additional 46 shares in the last quarter. Kennebec Savings Bank raised its position in shares of Danaher by 1.4% during the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock worth $766,000 after acquiring an additional 46 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Danaher by 2.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock worth $428,000 after acquiring an additional 47 shares in the last quarter. High Note Wealth LLC raised its position in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock worth $67,000 after acquiring an additional 47 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its position in shares of Danaher by 4.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock worth $253,000 after acquiring an additional 47 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada assumed coverage on Danaher in a research report on Thursday, May 14th. They set an "outperform" rating and a $200.00 target price on the stock. Barclays cut their target price on Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group cut their target price on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Piper Sandler initiated coverage on Danaher in a research report on Thursday. They set a "neutral" rating and a $200.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $233.61.

Danaher Price Performance

Shares of NYSE DHR opened at $181.04 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The stock has a fifty day moving average price of $180.73 and a 200 day moving average price of $204.27. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a market cap of $128.13 billion, a PE ratio of 35.02, a P/E/G ratio of 2.30 and a beta of 0.81.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the company earned $1.88 earnings per share. The company's revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Danaher Corporation will post 8.45 EPS for the current year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Danaher's dividend payout ratio (DPR) is currently 30.95%.

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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