Danaher Corporation $DHR Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of Danaher Corporation (NYSE:DHR) by 49.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 370,723 shares of the conglomerate’s stock after selling 359,455 shares during the period. Jennison Associates LLC’s holdings in Danaher were worth $70,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Enterprise Financial Services Corp lifted its position in shares of Danaher by 1.4% during the 4th quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate’s stock valued at $737,000 after acquiring an additional 46 shares during the period. Kennebec Savings Bank grew its holdings in shares of Danaher by 1.4% in the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate’s stock worth $766,000 after acquiring an additional 46 shares during the period. Revolve Wealth Partners LLC increased its stake in Danaher by 2.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 47 shares in the last quarter. High Note Wealth LLC increased its stake in Danaher by 19.2% in the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate’s stock valued at $67,000 after purchasing an additional 47 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in Danaher by 4.4% during the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate’s stock worth $253,000 after purchasing an additional 47 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DHR. Evercore reissued an “outperform” rating and issued a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Guggenheim decreased their price objective on shares of Danaher from $275.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Robert W. Baird lowered their price objective on shares of Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Wall Street Zen cut shares of Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, TD Cowen cut their target price on shares of Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.64.

Danaher Stock Performance

Danaher stock opened at $203.65 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The stock has a fifty day moving average of $183.27 and a two-hundred day moving average of $198.25. The company has a market capitalization of $144.14 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 2.51 and a beta of 0.79. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share 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 during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts anticipate that Danaher Corporation will post 8.45 EPS for the current fiscal year.

Danaher Announces Dividend

The company 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher’s payout ratio is presently 30.95%.

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.