State of Michigan Retirement System Decreases Stake in Danaher Corporation $DHR

State of Michigan Retirement System lowered its position in shares of Danaher Corporation (NYSE:DHR) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 173,146 shares of the conglomerate’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Danaher were worth $34,203,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DHR. MGO One Seven LLC boosted its holdings in Danaher by 485.7% in the 1st quarter. MGO One Seven LLC now owns 25,098 shares of the conglomerate’s stock worth $5,145,000 after acquiring an additional 20,813 shares during the period. Chicago Capital LLC boosted its holdings in Danaher by 11.6% in the 2nd quarter. Chicago Capital LLC now owns 13,332 shares of the conglomerate’s stock worth $2,634,000 after acquiring an additional 1,391 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Danaher by 1.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 170,505 shares of the conglomerate’s stock worth $34,954,000 after acquiring an additional 2,667 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new position in Danaher in the 1st quarter worth approximately $539,000. Finally, ASR Vermogensbeheer N.V. boosted its holdings in Danaher by 1.9% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 322,924 shares of the conglomerate’s stock worth $63,787,000 after acquiring an additional 6,136 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

Danaher stock opened at $215.63 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33. The stock has a market cap of $152.31 billion, a P/E ratio of 44.46, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $258.23. The stock has a 50 day moving average of $203.41 and a 200-day moving average of $199.54.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, October 21st. The conglomerate reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, September 26th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, September 26th. Danaher’s dividend payout ratio (DPR) is presently 26.39%.

Insider Activity

In other news, Director Teri List sold 2,778 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the transaction, the director directly owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Scotiabank upgraded Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 price target for the company in a report on Friday, July 11th. Barclays increased their target price on Danaher from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada set a $241.00 target price on Danaher in a research note on Tuesday, September 2nd. Redburn Partners set a $220.00 target price on Danaher in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Danaher from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.39.

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.