Wendell David Associates Inc. Lowers Stock Holdings in Danaher Corporation $DHR

Key Points

• Wendell David Associates Inc. reduced its stake in Danaher Corporation by 17% in the 2nd quarter, holding 51,832 shares valued at approximately $10.24 million by the end of the period.
• Multiple institutional investors recently increased their holdings in Danaher, with Nuveen LLC acquiring a new stake valued at $833.94 million and Baird Financial Group Inc. increasing its stake by 290.6% during the same quarter.
• Danaher reported impressive quarterly earnings of $1.80 EPS, exceeding analysts' expectations, along with revenue growth of 3.4% compared to the previous year, totaling $5.94 billion.

Wendell David Associates Inc. reduced its position in Danaher Corporation (NYSE:DHR - Free Report) by 17.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 51,832 shares of the conglomerate's stock after selling 10,610 shares during the period. Danaher comprises approximately 1.0% of Wendell David Associates Inc.'s holdings, making the stock its 27th biggest holding. Wendell David Associates Inc.'s holdings in Danaher were worth $10,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DHR. Nuveen LLC purchased a new stake in shares of Danaher during the 1st quarter valued at $833,941,000. Invesco Ltd. grew its stake in shares of 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 buying an additional 1,450,703 shares during the period. Baird Financial Group Inc. grew its stake in shares of 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 buying an additional 1,072,617 shares during the period. Generation Investment Management LLP grew its stake in shares of Danaher by 33.2% during the 1st quarter. Generation Investment Management LLP now owns 3,178,124 shares of the conglomerate's stock valued at $651,515,000 after buying an additional 791,662 shares during the period. Finally, Parnassus Investments LLC grew its stake in shares of Danaher by 23.3% during the 1st quarter. Parnassus Investments LLC now owns 3,828,024 shares of the conglomerate's stock valued at $784,745,000 after buying an additional 722,636 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value of $586,324.68. Following the transaction, the director owned 20,751 shares in the company, valued at $4,379,706.06. The trade was a 11.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.10% of the stock is owned by corporate insiders.

Danaher Stock Performance

NYSE:DHR opened at $209.14 on Friday. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $275.51. 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 firm has a market capitalization of $149.76 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 2.98 and a beta of 0.77. The firm's fifty day simple moving average is $201.60 and its 200 day simple moving average is $197.24.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the business posted $1.72 EPS. The firm's 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. As a group, equities research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, September 26th will be issued a $0.32 dividend. The ex-dividend date is Friday, September 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. Danaher's payout ratio is currently 27.23%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DHR. Bank of America lowered their price objective 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. Barclays reissued an "overweight" rating and set a $225.00 price objective (up from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Rothschild & Co Redburn restated a "neutral" rating and set a $220.00 target price (down previously from $245.00) on shares of Danaher in a report on Wednesday, October 8th. Guggenheim restated a "buy" rating and set a $250.00 target price on shares of Danaher in a report on Wednesday, July 23rd. Finally, Redburn Partners set a $220.00 target price on shares of Danaher in a report on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $245.00.

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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