Danaher Corporation $DHR Stake Lowered by SouthState Bank Corp

SouthState Bank Corp cut its stake in Danaher Corporation (NYSE:DHR) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,021 shares of the conglomerate’s stock after selling 3,485 shares during the quarter. SouthState Bank Corp’s holdings in Danaher were worth $18,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock worth $6,345,529,000 after purchasing an additional 472,608 shares in the last quarter. Capital International Investors grew its stake in shares of Danaher by 8.9% in the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after buying an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Danaher by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock worth $3,656,595,000 after buying an additional 1,334,221 shares during the last quarter. Wellington Management Group LLP increased its holdings in Danaher by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock worth $3,451,380,000 after buying an additional 1,517,904 shares during the last quarter. Finally, Norges Bank bought a new position in Danaher during the fourth quarter valued at approximately $2,177,106,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE:DHR opened at $199.06 on Wednesday. The firm has a market capitalization of $140.89 billion, a PE ratio of 38.50, a PEG ratio of 2.55 and a beta of 0.79. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $181.51 and its 200 day simple moving average is $198.83.

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

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid 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 dividend payout ratio is presently 30.95%.

Analyst Ratings Changes

DHR has been the subject of several recent research reports. Rothschild & Co Redburn set a $205.00 target price on shares of Danaher in a research report on Friday, April 17th. Argus cut their price target on shares of Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 24th. The Goldman Sachs Group reduced their price objective on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Evercore reissued an “outperform” rating and set a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Finally, Wells Fargo & Company cut their target price on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average target price of $231.64.

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.