Banyan Capital Management Inc. Sells 3,666 Shares of Danaher Corporation $DHR

Banyan Capital Management Inc. trimmed its position in shares of Danaher Corporation (NYSE:DHR) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,892 shares of the conglomerate’s stock after selling 3,666 shares during the quarter. Danaher makes up 1.5% of Banyan Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Banyan Capital Management Inc.’s holdings in Danaher were worth $3,582,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Danaher during the fourth quarter worth about $2,177,106,000. Viking Global Investors LP increased its holdings in Danaher by 543.9% in the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock worth $574,351,000 after purchasing an additional 2,455,994 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Danaher by 104.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate’s stock worth $991,923,000 after buying an additional 2,216,789 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Danaher by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock worth $3,451,380,000 after buying an additional 1,517,904 shares during the period. Finally, Capital International Investors grew its position in shares of Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock worth $4,177,386,000 after buying an additional 1,487,768 shares during the period. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

DHR has been the topic of a number of research analyst reports. Piper Sandler started coverage on shares of Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective on the stock. Argus reduced their price objective on Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Citigroup began coverage on Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price objective for the company. Morgan Stanley cut their target price on Danaher from $270.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Evercore restated an “outperform” rating and set a $230.00 price target on shares of Danaher in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Danaher currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

Danaher Stock Performance

Shares of DHR traded up $3.13 during trading hours on Friday, hitting $199.11. The company’s stock had a trading volume of 3,847,629 shares, compared to its average volume of 3,706,558. The business has a 50 day simple moving average of $180.59 and a two-hundred day simple moving average of $199.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a market cap of $140.92 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.54 and a beta of 0.79.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.88 earnings per share. On average, equities analysts expect that Danaher Corporation will post 8.44 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given 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 dividend payout ratio (DPR) is 30.95%.

About Danaher

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.