Danaher Corporation $DHR Stock Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in Danaher Corporation (NYSE:DHR) by 20.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,578 shares of the conglomerate’s stock after selling 10,078 shares during the period. Maryland State Retirement & Pension System’s holdings in Danaher were worth $8,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Danaher in the second quarter valued at $10,492,520,000. Jupiter Topco LLC acquired a new position in Danaher during the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP acquired a new position in Danaher during the 2nd quarter worth $1,287,949,000. Bank of America Corp DE purchased a new stake in Danaher during the 2nd quarter worth about $993,846,000. Finally, Legal & General Group Plc purchased a new stake in Danaher during the 2nd quarter worth about $801,056,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Activity at Danaher

In related news, EVP Gregory Milosevich sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $230.62, for a total transaction of $484,302.00. Following the completion of the sale, the executive vice president owned 22,367 shares in the company, valued at $5,158,277.54. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Bouda sold 7,598 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total value of $1,782,186.88. Following the completion of the transaction, the chief accounting officer directly owned 9,107 shares of the company’s stock, valued at $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.80% of the stock is owned by insiders.

Danaher Stock Down 1.4%

Danaher stock opened at $232.08 on Friday. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. The stock has a market cap of $163.28 billion, a PE ratio of 37.98, a P/E/G ratio of 2.95 and a beta of 0.76. The stock’s fifty day moving average is $222.11 and its two-hundred day moving average is $201.53.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.19. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. Danaher’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. On average, sell-side analysts expect that Danaher Corporation will post 8.59 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Danaher’s dividend payout ratio (DPR) is 26.19%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DHR. Citigroup increased their price target on Danaher from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a research report on Monday, October 26th. Wells Fargo & Company cut their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Robert W. Baird raised their target price on shares of Danaher from $246.00 to $254.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $240.00 price target on shares of Danaher in a research note on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.91.

About Danaher

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.