Candriam S.C.A. Lowers Holdings in Danaher Corporation $DHR

Candriam S.C.A. reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 41.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,951 shares of the conglomerate’s stock after selling 193,819 shares during the period. Candriam S.C.A.’s holdings in Danaher were worth $52,320,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DHR. Bank Pictet & Cie Europe AG grew its stake in shares of Danaher by 25.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock valued at $83,895,000 after buying an additional 74,301 shares during the period. Maxi Investments CY Ltd purchased a new position in shares of Danaher in the 3rd quarter worth $3,251,000. Defender Capital LLC. acquired a new position in Danaher in the fourth quarter valued at $35,715,000. Northwestern Mutual Wealth Management Co. grew its position in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after acquiring an additional 186,584 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in Danaher during the third quarter worth about $17,480,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DHR. Piper Sandler initiated coverage on Danaher in a research note on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price objective on the stock. 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 report on Friday, April 17th. Wells Fargo & Company reduced 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 report on Wednesday, April 22nd. TD Cowen decreased their price objective on shares of Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $245.00 price objective on shares of Danaher in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.64.

Danaher Stock Performance

Shares of DHR stock opened at $199.11 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The company’s fifty day moving average price is $180.59 and its two-hundred day moving average price is $199.48. The firm has a market capitalization of $140.92 billion, a P/E ratio of 38.51, a P/E/G ratio of 2.50 and a beta of 0.79. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the firm earned $1.88 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Danaher Corporation will post 8.44 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher’s payout ratio is currently 30.95%.

Danaher Company Profile

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.