Allspring Global Investments Holdings LLC Reduces Position in Danaher Corporation $DHR

Allspring Global Investments Holdings LLC trimmed its stake in Danaher Corporation (NYSE:DHR) by 2.5% in the first quarter, HoldingsChannel.com reports. The fund owned 473,207 shares of the conglomerate’s stock after selling 12,254 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Danaher were worth $90,283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elevated Capital Advisors LLC acquired a new position in Danaher in the 4th quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher during the 4th quarter worth about $27,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Danaher by 71.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock worth $29,000 after buying an additional 53 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Danaher in the third quarter valued at approximately $25,000. Finally, WFA of San Diego LLC purchased a new position in shares of Danaher during the second quarter valued at approximately $26,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Price Performance

Danaher stock opened at $203.65 on Friday. The firm has a fifty day moving average of $183.27 and a 200-day moving average of $198.47. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $144.14 billion, a P/E ratio of 39.39, a PEG ratio of 2.53 and a beta of 0.79.

Danaher (NYSE:DHR) last posted its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts predict that Danaher Corporation will post 8.45 EPS for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher’s payout ratio is currently 30.95%.

Analyst Ratings Changes

Several analysts have commented on DHR shares. Rothschild & Co Redburn set a $205.00 target price on shares of Danaher in a research note on Friday, April 17th. Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. HSBC dropped their target price on Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group decreased their price target on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, Royal Bank Of Canada started coverage on Danaher in a report on Thursday, May 14th. They issued an “outperform” rating and a $200.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average target price of $231.64.

Danaher Company Profile

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.