Wellington Management Group LLP Sells 3,618,119 Shares of Danaher Corporation $DHR

Key Points

• Wellington Management Group LLP has reduced its stake in Danaher Corporation by 17.0%, selling 3,618,119 shares during the first quarter, resulting in ownership of approximately 17.7 million shares.
• Danaher reported a quarterly earnings per share of $1.80, exceeding analysts' expectations of $1.64, with a revenue of $5.94 billion, up 3.4% year-over-year.
• The stock has garnered multiple buy ratings from analysts, with a consensus target price of $247.61 following several price adjustments from various brokerages.

Wellington Management Group LLP cut its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,700,708 shares of the conglomerate's stock after selling 3,618,119 shares during the quarter. Danaher comprises about 0.7% of Wellington Management Group LLP's holdings, making the stock its 24th largest position. Wellington Management Group LLP owned 2.47% of Danaher worth $3,628,645,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GHP Investment Advisors Inc. grew its stake in Danaher by 396.0% during the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after acquiring an additional 99 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Danaher during the 4th quarter valued at $27,000. Sierra Ocean LLC raised its holdings in Danaher by 116.9% during the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after buying an additional 76 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Danaher in the 1st quarter worth $31,000. Finally, Dunhill Financial LLC raised its holdings in Danaher by 68.4% in the 1st quarter. Dunhill Financial LLC now owns 165 shares of the conglomerate's stock worth $34,000 after purchasing an additional 67 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Price Performance

DHR opened at $210.84 on Monday. The stock has a market cap of $150.97 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 2.94 and a beta of 0.73. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $279.90. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $199.94 and a 200 day moving average price of $199.54.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on DHR. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. Leerink Partners increased their price objective on shares of Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. TD Cowen raised their target price on shares of Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their price objective on shares of Danaher from $260.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, 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 note on Friday, July 11th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

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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