Westpac Banking Corp Sells 1,505 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Westpac Banking Corp reduced its holdings in Danaher Corporation by 20.5%, selling 1,505 shares and owning 5,819 shares worth approximately $1,193,000 as of its latest SEC filing.
• Several institutional investors have recently increased their stakes in Danaher, indicating strong investor interest, with holdings now at 79.05% of the company's stock.
• Analysts have mixed views on Danaher, with Goldman Sachs lowering its target price to $240, while other firms like Leerink Partners and Robert W. Baird have issued "outperform" ratings with higher target prices.

Westpac Banking Corp lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 20.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,819 shares of the conglomerate's stock after selling 1,505 shares during the quarter. Westpac Banking Corp's holdings in Danaher were worth $1,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FAS Wealth Partners Inc. increased its holdings in Danaher by 20.6% during the 4th quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate's stock valued at $2,203,000 after purchasing an additional 1,639 shares in the last quarter. MGO One Seven LLC increased its holdings in Danaher by 485.7% during the 1st quarter. MGO One Seven LLC now owns 25,098 shares of the conglomerate's stock valued at $5,145,000 after purchasing an additional 20,813 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in Danaher during the 1st quarter valued at $539,000. Horizon Financial Services LLC increased its holdings in Danaher by 20,400.0% during the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate's stock valued at $1,681,000 after purchasing an additional 8,160 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its stake in shares of Danaher by 13.1% in the 1st quarter. EFG Asset Management Americas Corp. now owns 36,080 shares of the conglomerate's stock valued at $7,396,000 after buying an additional 4,191 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Up 0.3%

Shares of Danaher stock traded up $0.62 during trading on Friday, reaching $210.84. The stock had a trading volume of 3,210,213 shares, compared to its average volume of 4,658,279. The company has a market capitalization of $150.97 billion, a price-to-earnings ratio of 44.86, a P/E/G ratio of 2.94 and a beta of 0.73. The stock has a fifty day moving average price of $199.94 and a two-hundred day moving average price of $199.71. Danaher Corporation has a 52 week low of $171.00 and a 52 week 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.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DHR. The Goldman Sachs Group dropped their target price on Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Barclays restated an "overweight" rating and set a $225.00 target price (up previously from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft dropped their target price on Danaher from $240.00 to $235.00 in a research report on Thursday, June 5th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 target price on shares of Danaher in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

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.