TD Asset Management Inc Sells 912,205 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• TD Asset Management Inc has significantly reduced its stake in Danaher Corporation by selling 912,205 shares, resulting in a 59.0% decrease in their holdings during the first quarter.
• The company recently reported quarterly earnings of $1.80 per share, exceeding analyst expectations of $1.64, with revenues of $5.94 billion for the quarter.
• Danaher announced a quarterly dividend of $0.32 per share, representing an annualized dividend of $1.28 and a yield of 0.62%.

TD Asset Management Inc reduced its stake in Danaher Corporation (NYSE:DHR - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 633,343 shares of the conglomerate's stock after selling 912,205 shares during the period. TD Asset Management Inc owned 0.09% of Danaher worth $129,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Danaher by 24,958.2% in the first quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock valued at $383,524,000 after acquiring an additional 1,863,381 shares during the period. Two Sigma Advisers LP boosted its position in shares of Danaher by 4,248.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock valued at $376,347,000 after acquiring an additional 1,601,800 shares during the period. Capital World Investors boosted its position in shares of Danaher by 32.7% in the fourth quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock valued at $1,460,215,000 after acquiring an additional 1,566,658 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Danaher by 460.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,348,544 shares of the conglomerate's stock valued at $309,558,000 after acquiring an additional 1,107,998 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Danaher in the fourth quarter valued at about $242,837,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the transaction, the chairman directly owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.20% of the company's stock.

Danaher Trading Down 0.6%

NYSE:DHR traded down $1.19 on Wednesday, reaching $205.66. 1,792,975 shares of the stock traded hands, compared to its average volume of 4,265,226. The firm has a market capitalization of $147.26 billion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.77. The company's 50 day moving average is $196.69 and its 200-day moving average is $203.24. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.72 EPS. Equities research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.62%. Danaher's payout ratio is 27.23%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Danaher from $240.00 to $235.00 in a research report on Thursday, June 5th. HSBC cut their price objective on shares of Danaher from $270.00 to $240.00 in a research report on Friday, April 25th. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research report on Friday, July 11th. Robert W. Baird upped their price objective on shares of Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Finally, Bank of America cut their price objective on shares of Danaher from $265.00 to $230.00 in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Danaher currently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

About Danaher

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.