MAI Capital Management Cuts Position in Danaher Co. (NYSE:DHR)

MAI Capital Management lowered its stake in shares of Danaher Co. (NYSE:DHR) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,206 shares of the conglomerate’s stock after selling 1,688 shares during the period. MAI Capital Management’s holdings in Danaher were worth $14,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fort Pitt Capital Group LLC grew its holdings in shares of Danaher by 3.2% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock worth $66,194,000 after acquiring an additional 7,421 shares during the period. Good Life Advisors LLC acquired a new stake in Danaher in the third quarter valued at $217,000. Oak Thistle LLC purchased a new position in shares of Danaher in the second quarter valued at $363,000. Harvest Portfolios Group Inc. raised its stake in shares of Danaher by 1.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after buying an additional 2,465 shares during the last quarter. Finally, Diversified Trust Co boosted its position in shares of Danaher by 75.4% in the 2nd quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock worth $1,090,000 after buying an additional 1,874 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the transaction, the senior vice president now directly owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $229.50 on Tuesday. The business’s 50-day simple moving average is $261.33 and its 200-day simple moving average is $260.45. The firm has a market capitalization of $165.76 billion, a P/E ratio of 43.80, a P/E/G ratio of 4.24 and a beta of 0.85. Danaher Co. has a 1-year low of $207.63 and a 1-year high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. Danaher’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that Danaher Co. will post 7.51 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Friday, September 27th. Danaher’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

DHR has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Evercore ISI upped their target price on Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wolfe Research raised Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Thursday, October 31st. Stephens restated an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price objective on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and a consensus price target of $287.16.

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.