Connor Clark & Lunn Investment Management Ltd. Increases Stake in Danaher Corporation (NYSE:DHR)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Danaher Corporation (NYSE:DHR) by 271.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 126,822 shares of the conglomerate’s stock after buying an additional 92,643 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Danaher were worth $25,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DHR. FAS Wealth Partners Inc. grew its holdings in Danaher by 20.6% in the fourth quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate’s stock worth $2,203,000 after purchasing an additional 1,639 shares during the period. MGO One Seven LLC grew its holdings in Danaher by 485.7% in the first quarter. MGO One Seven LLC now owns 25,098 shares of the conglomerate’s stock worth $5,145,000 after purchasing an additional 20,813 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new stake in Danaher in the first quarter worth about $539,000. Horizon Financial Services LLC grew its holdings in Danaher by 20,400.0% in the first quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate’s stock worth $1,681,000 after purchasing an additional 8,160 shares during the period. Finally, EFG Asset Management Americas Corp. grew its holdings in Danaher by 13.1% in the first quarter. EFG Asset Management Americas Corp. now owns 36,080 shares of the conglomerate’s stock worth $7,396,000 after purchasing an additional 4,191 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Up 1.1%

Shares of Danaher stock opened at $200.70 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $279.90. The company has a market cap of $143.71 billion, a price-to-earnings ratio of 42.70, a price-to-earnings-growth ratio of 2.80 and a beta of 0.73. The company’s 50 day moving average is $198.46 and its 200 day moving average is $200.94.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.83 billion. During the same period last year, the firm earned $1.72 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Insiders Place Their Bets

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DHR shares. Wells Fargo & Company cut their price objective on shares of Danaher from $210.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. HSBC cut their price objective on shares of Danaher from $270.00 to $240.00 in a report on Friday, April 25th. Leerink Partners upped their target price on shares of Danaher from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Danaher from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. dropped 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. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.61.

About Danaher

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.