Waratah Capital Advisors Ltd. Cuts Position in Danaher Corporation $DHR

Waratah Capital Advisors Ltd. trimmed its holdings in shares of Danaher Corporation (NYSE:DHR) by 26.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,394 shares of the conglomerate’s stock after selling 47,549 shares during the quarter. Danaher accounts for about 0.7% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 17th largest position. Waratah Capital Advisors Ltd.’s holdings in Danaher were worth $25,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new position in Danaher during the first quarter valued at about $833,941,000. Generation Investment Management LLP raised its holdings in shares of Danaher by 56.2% in the 2nd quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock worth $980,914,000 after purchasing an additional 1,787,522 shares during the period. Invesco Ltd. raised its holdings in shares of Danaher by 44.5% in the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock worth $965,259,000 after purchasing an additional 1,450,703 shares during the period. Baird Financial Group Inc. lifted its stake in Danaher by 290.6% in the first quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock valued at $295,550,000 after purchasing an additional 1,072,617 shares during the last quarter. Finally, Parnassus Investments LLC increased its position in Danaher by 23.3% in the first quarter. Parnassus Investments LLC now owns 3,828,024 shares of the conglomerate’s stock worth $784,745,000 after buying an additional 722,636 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen boosted their target price on Danaher from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $220.00 price objective on shares of Danaher in a report on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and issued a $250.00 target price on shares of Danaher in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Danaher in a report on Wednesday, October 8th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Danaher has an average rating of “Moderate Buy” and a consensus price target of $243.39.

Danaher Stock Performance

NYSE:DHR opened at $221.25 on Friday. The stock has a market cap of $156.28 billion, a P/E ratio of 45.62, a PEG ratio of 3.28 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $205.63 and its two-hundred day moving average price is $201.10. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $258.23.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the business earned $1.71 earnings per share. Danaher’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, September 26th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 26th. Danaher’s payout ratio is currently 26.39%.

Insider Buying and Selling

In related news, SVP Brian W. Ellis sold 21,776 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $219.23, for a total value of $4,773,952.48. Following the transaction, the senior vice president owned 14,553 shares of the company’s stock, valued at $3,190,454.19. This represents a 59.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teri List sold 2,778 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the sale, the director owned 20,751 shares in the company, valued at $4,379,706.06. The trade was a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,728 shares of company stock worth $6,448,990. Corporate insiders own 11.10% of the company’s stock.

Danaher 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.