Fred Alger Management LLC Decreases Stock Holdings in Danaher Corporation $DHR

Fred Alger Management LLC cut its stake in Danaher Corporation (NYSE:DHR) by 37.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,307 shares of the conglomerate’s stock after selling 11,962 shares during the period. Fred Alger Management LLC’s holdings in Danaher were worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC acquired a new position in Danaher during the first quarter worth $833,941,000. GAMMA Investing LLC raised its holdings in shares of Danaher by 24,958.2% during the 1st quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate’s stock worth $383,524,000 after acquiring an additional 1,863,381 shares during the period. Two Sigma Advisers LP boosted its position in shares of Danaher by 4,248.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate’s stock valued at $376,347,000 after acquiring an additional 1,601,800 shares during the last quarter. Invesco Ltd. boosted its position in shares of Danaher by 44.5% during the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock valued at $965,259,000 after acquiring an additional 1,450,703 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Danaher by 460.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,348,544 shares of the conglomerate’s stock valued at $309,558,000 after purchasing an additional 1,107,998 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Transactions at Danaher

In other news, Director Teri List sold 2,778 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, the director owned 20,751 shares of the company’s stock, valued at approximately $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on DHR. Evercore ISI reduced their target price on shares of Danaher from $230.00 to $226.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Barclays restated an “overweight” rating and set a $225.00 price target (up previously from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Wells Fargo & Company decreased their price objective on Danaher from $210.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Guggenheim reiterated a “buy” rating and issued a $250.00 price objective on shares of Danaher in a research report on Wednesday, July 23rd. Finally, Scotiabank upgraded Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 target price on the stock in a research report on Friday, July 11th. Seventeen investment analysts have rated the stock with a Buy rating and three 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 $246.35.

Danaher Stock Down 2.2%

Danaher stock opened at $194.24 on Wednesday. The company has a market capitalization of $139.09 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $279.90. The firm has a 50 day moving average price of $201.82 and a 200 day moving average price of $199.20.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, September 26th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.7%. Danaher’s dividend payout ratio is currently 27.23%.

Danaher Company 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.