Cromwell Holdings LLC Lowers Stake in Danaher Corporation (NYSE:DHR)

by · The Markets Daily

Cromwell Holdings LLC reduced its holdings in shares of Danaher Corporation (NYSE:DHR – Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,704 shares of the conglomerate’s stock after selling 244 shares during the period. Cromwell Holdings LLC’s holdings in Danaher were worth $350,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of DHR. Diversify Wealth Management LLC lifted its stake in shares of Danaher by 25.3% in the 1st quarter. Diversify Wealth Management LLC now owns 10,254 shares of the conglomerate’s stock worth $2,040,000 after acquiring an additional 2,068 shares during the period. Robeco Schweiz AG lifted its stake in shares of Danaher by 26.0% in the 1st quarter. Robeco Schweiz AG now owns 327,058 shares of the conglomerate’s stock worth $67,047,000 after acquiring an additional 67,513 shares during the period. Ramsay Stattman Vela & Price Inc. lifted its stake in shares of Danaher by 1.2% in the 1st quarter. Ramsay Stattman Vela & Price Inc. now owns 68,912 shares of the conglomerate’s stock worth $14,127,000 after acquiring an additional 803 shares during the period. Cerity Partners LLC lifted its stake in shares of Danaher by 11.8% in the 1st quarter. Cerity Partners LLC now owns 337,409 shares of the conglomerate’s stock worth $69,170,000 after acquiring an additional 35,712 shares during the period. Finally, Vision Capital Management Inc. acquired a new stake in shares of Danaher in the 1st quarter worth $461,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HSBC reduced their target price on shares of Danaher from $270.00 to $240.00 in a research note on Friday, April 25th. The Goldman Sachs Group reduced their target price on shares of Danaher from $260.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird reduced their target price on shares of Danaher from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Scotiabank upgraded shares of Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 target price for the company in a research note on Friday. Finally, Barclays reiterated an “overweight” rating and issued a $225.00 price objective (up previously from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.43.

Check Out Our Latest Research Report on Danaher

Insider Transactions at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the sale, the executive vice president owned 15,179 shares of the company’s stock, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Danaher Stock Performance

Shares of DHR opened at $205.55 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. The stock has a market cap of $147.11 billion, a P/E ratio of 39.91, a PEG ratio of 2.82 and a beta of 0.77. The company has a 50-day moving average of $195.94 and a two-hundred day moving average of $206.65. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $281.70.

Danaher (NYSE:DHR – Get Free Report) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Danaher had a net margin of 15.81% and a return on equity of 10.80%. As a group, research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.62%. Danaher’s payout ratio is currently 24.85%.

About Danaher

(Free Report)

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.

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