Danaher Corporation (NYSE:DHR) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC lowered its stake in shares of Danaher Corporation (NYSE:DHR) by 62.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,887 shares of the conglomerate’s stock after selling 3,142 shares during the period. Prosperity Consulting Group LLC’s holdings in Danaher were worth $387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. raised its position in Danaher by 20.6% in the fourth quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate’s stock valued at $2,203,000 after purchasing an additional 1,639 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Danaher in the 1st quarter valued at $539,000. Horizon Financial Services LLC raised its holdings in shares of Danaher by 20,400.0% in the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate’s stock valued at $1,681,000 after buying an additional 8,160 shares during the period. Vision Capital Management Inc. purchased a new stake in Danaher during the 1st quarter worth about $461,000. Finally, Eos Management L.P. increased its holdings in Danaher by 55.8% during the 1st quarter. Eos Management L.P. now owns 40,567 shares of the conglomerate’s stock worth $8,316,000 after purchasing an additional 14,537 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Danaher from $280.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Scotiabank upgraded Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 price target on the stock in a report on Friday, July 11th. Robert W. Baird upped their price target on Danaher from $225.00 to $226.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. Finally, Wolfe Research lowered their price objective on Danaher from $275.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.61.

Insider Activity

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the transaction, the chairman directly owned 3,105,808 shares of the company’s stock, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.20% of the company’s stock.

Danaher Stock Up 1.9%

DHR opened at $206.83 on Wednesday. The company has a market cap of $148.10 billion, a PE ratio of 44.01, a P/E/G ratio of 2.82 and a beta of 0.77. The business has a 50 day moving average price of $196.69 and a two-hundred day moving average price of $203.24. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $281.70. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.16. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 EPS. As a group, research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.62%. Danaher’s dividend payout ratio (DPR) is 27.23%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.