Y Intercept Hong Kong Ltd Sells 8,607 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in Danaher Corporation by 75.1%, selling 8,607 shares, and now holds 2,856 shares valued at $585,000.
• Several institutional investors increased their holdings in Danaher, with Bank Pictet & Cie Europe AG boosting its stake by 22.8% during the previous quarter.
• Danaher announced a quarterly dividend of $0.32 per share, reflecting a dividend yield of 0.62%, with a payout ratio of 27.23%.

Y Intercept Hong Kong Ltd decreased its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 75.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,856 shares of the conglomerate's stock after selling 8,607 shares during the period. Y Intercept Hong Kong Ltd's holdings in Danaher were worth $585,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently commented on DHR. Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a research note on Friday, July 11th. Argus lowered their target price on shares of Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Danaher in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Leerink Partners raised their target price on shares of Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Insider Transactions at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total value of $245,925,000.00. Following the transaction, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. This represents a 28.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.10% of the company's stock.

Danaher Stock Down 1.5%

Shares of Danaher stock traded down $3.01 on Thursday, hitting $200.98. The company had a trading volume of 1,369,939 shares, compared to its average volume of 4,271,156. The firm has a market capitalization of $143.91 billion, a P/E ratio of 42.67, a P/E/G ratio of 2.87 and a beta of 0.77. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70. 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 stock has a 50-day moving average of $197.05 and a 200-day moving average of $203.25.

Danaher (NYSE:DHR - Get Free Report) last announced 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 business 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 firm posted $1.72 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.64%. Danaher's dividend payout ratio (DPR) is currently 27.23%.

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.