Short Interest in Danaher Corporation (NYSE:DHR) Grows By 17.8%

Key Points

• Short interest jumped 17.8% in April to 8,176,911 shares (about 1.3% of shares short) with a days-to-cover ratio of 2.5 based on average daily volume.
• Analyst consensus is a "Moderate Buy" (18 Buys, 3 Holds) with a consensus target price of $240.70, even as several firms trimmed their individual targets recently.
• Quarterly results and dividend were mixed — Danaher beat EPS estimates ($2.06 vs. $1.94) but revenue slightly missed, and the company raised its quarterly dividend to $0.40 (annualized $1.60, ~0.9% yield).

Danaher Corporation (NYSE:DHR - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 8,176,911 shares, an increase of 17.8% from the March 31st total of 6,939,368 shares. Based on an average daily trading volume, of 3,209,496 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.3% of the company's shares are short sold.

Insider Activity at Danaher

In other news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the sale, the executive vice president owned 5,099 shares in the company, valued at $1,060,642.99. The trade was a 20.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DHR. Enterprise Financial Services Corp raised its position in Danaher by 1.4% during the fourth quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock worth $737,000 after acquiring an additional 46 shares in the last quarter. Kennebec Savings Bank raised its position in Danaher by 1.4% during the fourth quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock worth $766,000 after acquiring an additional 46 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Danaher by 2.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock valued at $428,000 after purchasing an additional 47 shares during the last quarter. High Note Wealth LLC raised its position in shares of Danaher by 19.2% in the fourth quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after purchasing an additional 47 shares during the period. Finally, First Command Advisory Services Inc. raised its position in shares of Danaher by 4.4% in the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Analysts Set New Price Targets

DHR has been the subject of a number of analyst reports. Jefferies Financial Group restated a "buy" rating and set a $245.00 price objective on shares of Danaher in a report on Tuesday, April 21st. Argus decreased their price objective on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Wells Fargo & Company cut their price target on shares of Danaher from $240.00 to $212.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 22nd. Barclays cut their price target on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. Finally, Robert W. Baird cut their price target on shares of Danaher from $251.00 to $249.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and a consensus target price of $240.70.

Danaher Stock Performance

Shares of DHR stock opened at $178.47 on Thursday. Danaher has a 12 month low of $175.00 and a 12 month high of $242.80. The company's fifty day simple moving average is $193.98 and its 200-day simple moving average is $213.38. The firm has a market cap of $126.31 billion, a PE ratio of 34.52, a P/E/G ratio of 2.41 and a beta of 0.95. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm's revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Danaher will post 8.43 EPS for the current fiscal year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, March 27th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 27th. This is a positive change from Danaher's previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher's dividend payout ratio is currently 30.95%.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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