Picton Mahoney Asset Management Lowers Stock Position in Danaher Co. (NYSE:DHR)

Picton Mahoney Asset Management cut its stake in shares of Danaher Co. (NYSE:DHR) by 45.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 27,615 shares of the conglomerate’s stock after selling 23,361 shares during the period. Picton Mahoney Asset Management’s holdings in Danaher were worth $6,388,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of Danaher in the fourth quarter valued at about $27,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Danaher in the fourth quarter valued at about $29,000. OFI Invest Asset Management acquired a new stake in shares of Danaher in the third quarter valued at about $30,000. Rakuten Securities Inc. acquired a new stake in shares of Danaher in the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Danaher in the fourth quarter valued at about $41,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Danaher

In other news, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the sale, the director now owns 116,202 shares of the company’s stock, valued at approximately $28,304,483.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Danaher news, SVP Georgeann Couchara sold 2,622 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $242.67, for a total transaction of $636,280.74. Following the completion of the transaction, the senior vice president now directly owns 4,244 shares of the company’s stock, valued at approximately $1,029,891.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now directly owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,984 shares of company stock valued at $25,997,094. Insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DHR. Royal Bank of Canada upped their price objective on shares of Danaher from $254.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Bank of America increased their target price on shares of Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. KeyCorp increased their target price on shares of Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Citigroup increased their target price on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, TD Cowen increased their target price on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.31.

Danaher Trading Up 0.3 %

NYSE:DHR traded up $0.82 during trading hours on Wednesday, reaching $249.58. 1,471,344 shares of the company were exchanged, compared to its average volume of 2,730,175. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.85 and a quick ratio of 1.51. The firm has a market cap of $184.86 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 3.82 and a beta of 0.83. Danaher Co. has a 52-week low of $182.09 and a 52-week high of $259.00. The stock has a 50 day simple moving average of $248.27 and a 200 day simple moving average of $233.19.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 EPS. As a group, analysts predict that Danaher Co. will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.43%. Danaher’s payout ratio is currently 18.31%.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.