Danaher Corporation $DHR Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lowered its position in shares of Danaher Corporation (NYSE:DHR) by 24.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,664,560 shares of the conglomerate’s stock after selling 1,506,544 shares during the quarter. Danaher comprises 2.8% of Parnassus Investments LLC’s holdings, making the stock its 9th biggest position. Parnassus Investments LLC owned 0.66% of Danaher worth $1,067,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors lifted its holdings in shares of Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock worth $4,177,386,000 after buying an additional 1,487,768 shares in the last quarter. Norges Bank acquired a new stake in shares of Danaher during the fourth quarter worth $2,177,106,000. Generation Investment Management LLP lifted its holdings in shares of Danaher by 34.0% during the third quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate’s stock worth $1,319,354,000 after buying an additional 1,689,020 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Danaher by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 4,931,303 shares of the conglomerate’s stock worth $1,128,874,000 after buying an additional 637,666 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Danaher by 1.0% during the fourth quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate’s stock worth $1,029,061,000 after buying an additional 43,169 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Down 1.6%

Shares of NYSE DHR opened at $180.65 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock has a market capitalization of $127.86 billion, a P/E ratio of 34.94, a PEG ratio of 2.45 and a beta of 0.81. The stock’s fifty day moving average is $181.15 and its 200 day moving average is $204.96.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter last year, the business earned $1.88 earnings per share. Danaher’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Danaher’s dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DHR. Piper Sandler began coverage on Danaher in a report on Thursday. They set a “neutral” rating and a $200.00 target price for the company. Citigroup began coverage on Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 target price for the company. UBS Group dropped their target price on Danaher from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Morgan Stanley dropped their target price on Danaher from $270.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Danaher in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and an average price target of $233.61.

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.