State of Alaska Department of Revenue Decreases Stock Position in Danaher Corporation $DHR

Key Points

• The State of Alaska Department of Revenue decreased its stake in Danaher Corporation by 4.5% in the second quarter, selling 3,370 shares and now holding 71,634 shares worth approximately $14.15 million.
• Danaher reported a quarterly EPS of $1.80, surpassing estimates, with revenue reaching $5.94 billion, indicating a 3.4% year-over-year growth.
• The company has announced a quarterly dividend of $0.32, with a payout ratio of 27.23%, set to be distributed on October 31st.

State of Alaska Department of Revenue trimmed its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,634 shares of the conglomerate's stock after selling 3,370 shares during the quarter. State of Alaska Department of Revenue's holdings in Danaher were worth $14,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in Danaher during the 1st quarter valued at about $833,941,000. GAMMA Investing LLC grew its position in shares of Danaher by 24,958.2% during the 1st quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock worth $383,524,000 after buying an additional 1,863,381 shares in the last quarter. Invesco Ltd. increased 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 during the period. Baird Financial Group Inc. boosted its position in Danaher by 290.6% during 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 in the last quarter. Finally, Generation Investment Management LLP grew its stake in Danaher by 33.2% in the first quarter. Generation Investment Management LLP now owns 3,178,124 shares of the conglomerate's stock valued at $651,515,000 after purchasing an additional 791,662 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Trading Up 1.9%

NYSE DHR opened at $184.97 on Friday. The firm's fifty day moving average price is $199.44 and its 200 day moving average price is $197.53. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $279.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22. The company has a market capitalization of $132.45 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 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 during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. Danaher'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, sell-side analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, September 26th. Danaher's dividend payout ratio (DPR) is 27.23%.

Insiders Place Their Bets

In other Danaher news, Director Teri List sold 2,778 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, 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 is accessible through the SEC website. Corporate insiders own 11.10% of the company's stock.

Analysts Set New Price Targets

DHR has been the topic of several research analyst reports. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Bank of America decreased their target price on shares of Danaher from $230.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, September 22nd. Guggenheim reissued a "buy" rating and issued a $250.00 price objective on shares of Danaher in a report on Wednesday, July 23rd. Barclays reissued an "overweight" rating and set a $225.00 target price (up previously from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Finally, Robert W. Baird raised their price target on shares of Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $245.91.

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.

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