Dorsey Asset Management LLC Sells 66,142 Shares of Danaher Corporation $DHR

Dorsey Asset Management LLC lessened its position in Danaher Corporation (NYSE:DHR) by 7.1% in the 3rd quarter, Holdings Channel reports. The fund owned 860,850 shares of the conglomerate’s stock after selling 66,142 shares during the period. Danaher makes up approximately 15.3% of Dorsey Asset Management LLC’s investment portfolio, making the stock its biggest holding. Dorsey Asset Management LLC’s holdings in Danaher were worth $170,672,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Danaher during the 2nd quarter valued at $1,979,503,000. Viking Global Investors LP grew its holdings in shares of Danaher by 543.9% during the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after buying an additional 2,455,994 shares in the last quarter. Generation Investment Management LLP raised its position in Danaher by 34.0% during the third quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate’s stock valued at $1,319,354,000 after buying an additional 1,689,020 shares during the period. Ameriprise Financial Inc. lifted its stake in Danaher by 211.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,088,089 shares of the conglomerate’s stock worth $414,038,000 after acquiring an additional 1,418,243 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in Danaher by 924.2% during the 2nd quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock worth $244,815,000 after acquiring an additional 1,118,318 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the sale, the executive vice president owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DHR shares. JPMorgan Chase & Co. increased their price target on shares of Danaher from $270.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. TD Cowen reiterated a “buy” rating on shares of Danaher in a research note on Wednesday, January 7th. The Goldman Sachs Group cut their target price on shares of Danaher from $270.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. HSBC lifted their target price on shares of Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Argus set a $265.00 price target on shares of Danaher in a report on Wednesday, January 14th. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.55.

Danaher Trading Up 0.6%

Shares of NYSE DHR opened at $187.34 on Friday. The stock has a market cap of $132.47 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.54 and a beta of 0.93. The business has a 50 day simple moving average of $218.79 and a 200 day simple moving average of $215.41. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $242.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.09. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.79 billion. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. On average, research analysts predict that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Danaher’s previous quarterly dividend of $0.32. Danaher’s payout ratio is 25.40%.

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.