Madison Asset Management LLC Cuts Stock Position in Danaher Corporation $DHR

Madison Asset Management LLC decreased its position in shares of Danaher Corporation (NYSE:DHR) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495,020 shares of the conglomerate’s stock after selling 50,024 shares during the period. Danaher comprises 1.2% of Madison Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. Madison Asset Management LLC’s holdings in Danaher were worth $93,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rice Partnership LLC grew its holdings in shares of Danaher by 3.1% in the first quarter. Rice Partnership LLC now owns 39,403 shares of the conglomerate’s stock valued at $7,471,000 after purchasing an additional 1,193 shares in the last quarter. AlTi Global Inc. lifted its holdings in Danaher by 2.3% during the 1st quarter. AlTi Global Inc. now owns 9,760 shares of the conglomerate’s stock worth $1,854,000 after buying an additional 224 shares in the last quarter. Earned Wealth Advisors LLC lifted its holdings in Danaher by 12.1% during the 1st quarter. Earned Wealth Advisors LLC now owns 2,209 shares of the conglomerate’s stock worth $419,000 after buying an additional 238 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Danaher by 128.9% in the 1st quarter. Meeder Asset Management Inc. now owns 309 shares of the conglomerate’s stock valued at $59,000 after buying an additional 174 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. grew its stake in shares of Danaher by 4.0% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 4,245 shares of the conglomerate’s stock worth $805,000 after acquiring an additional 163 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DHR shares. Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Evercore reiterated an “outperform” rating and issued a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Argus lowered their target price on Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. UBS Group cut their price target on Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

Danaher Price Performance

Shares of DHR opened at $201.70 on Tuesday. The firm has a market capitalization of $142.76 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 2.51 and a beta of 0.79. The firm’s fifty day simple moving average is $183.97 and its 200-day simple moving average is $198.04. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last issued its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 earnings per share. Equities analysts forecast that Danaher Corporation will post 8.45 EPS for the current fiscal year.

Danaher Announces Dividend

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

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.