Thoroughbred Financial Services LLC Cuts Stock Holdings in Danaher Co. (NYSE:DHR)

Posted by Defense World Staff on Jul 9th, 2023

Thoroughbred Financial Services LLC reduced its position in shares of Danaher Co. (NYSE:DHR – Free Report) by 48.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 850 shares of the conglomerate’s stock after selling 787 shares during the period. Thoroughbred Financial Services LLC’s holdings in Danaher were worth $214,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DHR. GPS Wealth Strategies Group LLC purchased a new stake in shares of Danaher in the first quarter valued at approximately $25,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Danaher in the fourth quarter valued at approximately $27,000. Chelsea Counsel Co. purchased a new stake in shares of Danaher in the fourth quarter valued at approximately $27,000. My Personal CFO LLC purchased a new stake in shares of Danaher in the fourth quarter valued at approximately $29,000. Finally, Private Ocean LLC grew its position in shares of Danaher by 1,485.7% in the fourth quarter. Private Ocean LLC now owns 111 shares of the conglomerate’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DHR shares. Wells Fargo & Company upgraded Danaher from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $275.00 to $285.00 in a research report on Tuesday, April 18th. Royal Bank of Canada decreased their price objective on Danaher from $289.00 to $260.00 in a report on Wednesday, April 26th. SVB Leerink reiterated an “outperform” rating on shares of Danaher in a report on Monday, May 1st. William Blair reiterated an “outperform” rating on shares of Danaher in a report on Wednesday, April 26th. Finally, Stifel Nicolaus decreased their price objective on Danaher from $270.00 to $250.00 in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and an average price target of $294.88.

Insider Activity

In other news, SVP Jose-Carlos Gutierrez-Ramos sold 500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $242.19, for a total value of $121,095.00. Following the sale, the senior vice president now directly owns 7,529 shares in the company, valued at $1,823,448.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Daniel Raskas sold 19,847 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $228.50, for a total value of $4,535,039.50. Following the transaction, the senior vice president now owns 38,673 shares of the company’s stock, valued at $8,836,780.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jose-Carlos Gutierrez-Ramos sold 500 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $242.19, for a total value of $121,095.00. Following the completion of the transaction, the senior vice president now directly owns 7,529 shares in the company, valued at approximately $1,823,448.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,466 shares of company stock worth $8,103,781. Corporate insiders own 11.10% of the company’s stock.

Danaher Stock Down 0.6 %

NYSE:DHR opened at $233.08 on Friday. The stock has a market capitalization of $171.99 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. The company has a quick ratio of 1.51, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. Danaher Co. has a 52 week low of $221.22 and a 52 week high of $303.82. The stock’s fifty day moving average is $235.07 and its two-hundred day moving average is $248.26.

Danaher (NYSE:DHR – Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.06 billion. Danaher had a return on equity of 16.70% and a net margin of 22.40%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.76 earnings per share. Research analysts anticipate that Danaher Co. will post 9.43 EPS for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, June 29th. Danaher’s payout ratio is currently 11.64%.

Danaher Company Profile

(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; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.