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

Pictet Asset Management Holding SA reduced its stake in Danaher Corporation (NYSE:DHR) by 13.0% in the 3rd quarter, Holdings Channel reports. The firm owned 544,349 shares of the conglomerate’s stock after selling 81,341 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Danaher were worth $120,679,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Marquette Asset Management LLC grew its stake in shares of Danaher by 192.1% in the third quarter. Marquette Asset Management LLC now owns 111 shares of the conglomerate’s stock valued at $25,000 after buying an additional 73 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Danaher during the 2nd quarter valued at about $25,000. Main Street Group LTD acquired a new position in Danaher during the 1st quarter worth approximately $25,000. Field & Main Bank acquired a new position in Danaher during the 2nd quarter worth approximately $29,000. Finally, Solstein Capital LLC purchased a new position in Danaher in the 2nd quarter worth approximately $33,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Performance

Danaher stock opened at $230.34 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a fifty day moving average price of $220.27 and a two-hundred day moving average price of $201.60. The company has a market cap of $162.05 billion, a PE ratio of 37.70, a P/E/G ratio of 2.89 and a beta of 0.76.

Danaher (NYSE:DHR) last issued its 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 firm had revenue of $6.55 billion for 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%. Danaher’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.89 earnings per share. Research analysts expect that Danaher Corporation will post 8.59 earnings per share for the current year.

Danaher Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DHR. The Goldman Sachs Group reaffirmed a “buy” rating and set a $275.00 price target on shares of Danaher in a report on Thursday, October 22nd. Weiss Ratings raised shares of Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada boosted their price objective on shares of Danaher from $215.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, October 5th. Wells Fargo & Company decreased their price objective on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price objective on shares of Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.91.

Insiders Place Their Bets

In related news, CAO Christopher Bouda sold 7,598 shares of Danaher stock in a transaction dated 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 sale, the chief accounting officer directly owned 9,107 shares in the company, valued at $2,136,137.92. This trade represents a 45.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.80% of the stock is owned by corporate insiders.

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.