Danaher Corporation $DHR Stock: Pictet Asset Management Holding SA Trims Position

Pictet Asset Management Holding SA reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,349 shares of the conglomerate’s stock after selling 81,341 shares during the quarter. Pictet Asset Management Holding SA owned about 0.08% of Danaher worth $120,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DHR. Parallel Advisors LLC raised its stake in shares of Danaher by 1.8% during the third quarter. Parallel Advisors LLC now owns 14,077 shares of the conglomerate’s stock worth $3,119,000 after purchasing an additional 250 shares during the last quarter. United Advisor Group LLC acquired a new stake in shares of Danaher during the third quarter worth $365,000. Plancorp LLC grew its position in Danaher by 13.4% in the 3rd quarter. Plancorp LLC now owns 1,634 shares of the conglomerate’s stock valued at $379,000 after buying an additional 193 shares during the last quarter. Waycross Partners LLC grew its position in Danaher by 104.2% in the 3rd quarter. Waycross Partners LLC now owns 6,638 shares of the conglomerate’s stock valued at $1,471,000 after buying an additional 3,388 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in Danaher in the 3rd quarter valued at $578,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Christopher Bouda sold 7,598 shares of the firm’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 transaction of $1,782,186.88. Following the sale, the chief accounting officer owned 9,107 shares in the company, valued at approximately $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DHR has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Danaher from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Morgan Stanley boosted their price target on shares of Danaher from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Guggenheim increased their price target on shares of Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. TD Cowen raised their price objective on shares of Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $275.00 price objective on shares of Danaher in a research report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and an average target price of $242.91.

Danaher Trading Up 0.0%

NYSE:DHR opened at $230.34 on Monday. The company has a market capitalization of $162.05 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The stock has a fifty day simple moving average of $220.27 and a 200-day simple moving average of $201.60.

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

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid 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 currently 26.19%.

Danaher Profile

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.